Binance Futures Delists LUNA Perpetual Contracts

In the collapse of the Terra network’s cryptocurrency Luna (Luna) and TerraUSD (UST), the cryptocurrency exchange Binance continues to suspend related trading services.

Binance’s derivatives arm, Binance Futures, has officially delisted the currency-margined LUNA perpetual contract Announce May 12.

“Users are advised to close any open positions prior to the delisting time to avoid automatic settlement,” reads the platform’s statement.

Binance Futures has also started automatic settlement of contracts, reducing leverage levels and updating margin levels for coin-margined LUNA perpetual contracts.

As a result, the 8x leverage level is now the maximum leverage level available on Binance for LUNA perpetual contracts, replacing the previous maximum available leverage of 21-25x. According to the updated data, the 11-20x leverage was reduced to 7x, while the 6-10x leverage was replaced with a 6x leverage level.

According to the announcement, existing positions that were opened before the update will not be affected.

“Binance reserves the right to further change the maximum leverage and margin levels for USDT-margined LUNA perpetual contracts without prior notice,” the company added.

related: Why did Terra LUNA and UST crash? | Understanding Market Reports

The latest trading update on Binance Futures is coming soon Binance suspends withdrawals LUNA and UST dump tokens on Terra network on May 10, UST stablecoin lose peg to dollar and fell to $0.67.

This article is under development and will be updated.