0%

LUNA - Transfers and trading paused and compensation guideline

May 13, 2022 2 min read
News Article Banner Image

In the recent days LUNA experienced large price fluctuations due to the concerns of the stability of UST, which should be an USD backed stablecoin, linked to LUNA as explained here yesterday.

Transfers

The Terra (LUNA) network has halted at block height 7,607,789. Deposits and withdrawals for the Terra (LUNA) network were temporarily suspended on 2022-05-13. More information here.

Bitvavo will reopen deposits and withdrawals for the Terra (LUNA) network once the network is stable. We will not notify users in a further announcement.

Trading

To protect our customers against extreme price fluctuations and given the limited available liquidity, given that the LUNA network has halted, trading LUNA-EUR was paused on 2022-05-13 at 8:20 am (CET).

Impact Customers

Customers are currently not able to trade and transfer LUNA. As this could result in an undesired exposure to LUNA (for users who are currently holding LUNA), Bitvavo decided to offer our user the following possibilities:

  1. Users will receive the EUR value of their LUNA at the moment that the LUNA-EUR trading was paused 13-05-2022 8:20 AM  (CET).

    These amounts will be automatically added to the user account later today (while the user still keeps his LUNA) and will be visible in your transaction history.

  2. Users will - on top of the above - be able to withdraw and trade their LUNA once the LUNA blockchain is restarted again.

By offering customers both the EUR value of their LUNA at the moment that the trading was paused and the possibility to withdraw and trade their LUNA in a later stage, Bitvavo will continuing to take the lead in creating a sound and transparent trading environment so that users can trade with confidence through continuous and systematic supervision of listed virtual assets.

If you have specific questions related to LUNA, please reach out to our support team.

Popular news

How to Set Up and Use Trust Wallet for Binance Smart Chain
#Bitcoin#Bitcoins#Config+2 more tags

How to Set Up and Use Trust Wallet for Binance Smart Chain

Your Essential Guide To Binance Leveraged Tokens

Your Essential Guide To Binance Leveraged Tokens

How to Sell Your Bitcoin Into Cash on Binance (2021 Update)
#Subscriptions

How to Sell Your Bitcoin Into Cash on Binance (2021 Update)

What is Grid Trading? (A Crypto-Futures Guide)

What is Grid Trading? (A Crypto-Futures Guide)

Start trading with Cryptohopper for free!

Free to use - no credit card required

Let's get started
Cryptohopper appCryptohopper app

Disclaimer: Cryptohopper is not a regulated entity. Cryptocurrency bot trading involves substantial risks, and past performance is not indicative of future results. The profits shown in product screenshots are for illustrative purposes and may be exaggerated. Only engage in bot trading if you possess sufficient knowledge or seek guidance from a qualified financial advisor. Under no circumstances shall Cryptohopper accept any liability to any person or entity for (a) any loss or damage, in whole or in part, caused by, arising out of, or in connection with transactions involving our software or (b) any direct, indirect, special, consequential, or incidental damages. Please note that the content available on the Cryptohopper social trading platform is generated by members of the Cryptohopper community and does not constitute advice or recommendations from Cryptohopper or on its behalf. Profits shown on the Markteplace are not indicative of future results. By using Cryptohopper's services, you acknowledge and accept the inherent risks involved in cryptocurrency trading and agree to hold Cryptohopper harmless from any liabilities or losses incurred. It is essential to review and understand our Terms of Service and Risk Disclosure Policy before using our software or engaging in any trading activities. Please consult legal and financial professionals for personalized advice based on your specific circumstances.

©2017 - 2024 Copyright by Cryptohopper™ - All rights reserved.