LUNA has come down from its maximum of $ 118 to just a few decimal cents, wiping out 100 percent of investors’ assets. Overall, tokens have wiped out $ 40 billion from their pockets.
In his support blog, WazirX stated that they are listing pairs of LUNA / USDT, LUNA / INR, LUNA / WRX. “We will enable Binance free transfers for users to withdraw their LUNA funds,” it added. USDT is a tether, a stablecoin, and WRX is a WazirX utility token.
Other crypto exchanges, including Zebpay, CoinDCX and Binance, have also removed LUNA from their active token list, following the removal from the list.
However, some exchanges like Geotas still have it on their platform. Its CEO Vikram Subburaj says things could be reversed if the Terra blockchain is re-launched, UST re-peg succeeds and LUNA can find a way to be relevant to the ecosystem again. “However, all of the above is less likely to happen.”
The Terra blockchain closed on Thursday. Lunar’s decline began when his sister token UST, a stablecoin, became ‘dipped’ from its 1 value when big investors began dumping millions of dollars worth of UST over the weekend.
Raj A Kapoor, founder, India Blockchain Alliance, says trading platforms fear that the terra has become a risky currency, leading to such a move. “Exchanges are guardians for these tokens, but you will not be able to transact them as before.”
Commenting on the move by the exchange, Hitesh Malviya, founder of IBC Capital, said that the exchange should have taken this step earlier when the price of LUNA fell below $ 1 as it was not a failure.
Malviya says the foundation now has two options – either to give up altogether or to issue investors some extra tokens because they still have some money left in their foundation.