Crypto.com delists Terra LUNA, token plunges nearly 10%

Popular exchange Crypto.com today announced the delisting of Terra LUNA.

As a direct consequence, LUNA and LUNA Classic experienced a near 10% drop in value, reflecting investor uncertainty. Additionally, both tokens witnessed a 12% decrease in their 24-hour trading volume, signaling a retreat in market activity surrounding these assets.

In response to these developments, Crypto.com has taken decisive action to mitigate risks and protect its users. Key measures include the suspension of trading for LUNA, MIR, and ANC on both the Crypto.com app and Crypto.com exchange platforms. Furthermore, new earn deposits and loans for LUNA have been halted.

Existing LUNA Earn deposits will not be affected, providing stability for current investors. The suspension extends to deposits and withdrawals for Terra native and Cronos CRC20 LUNA, Ethereum Mainnet ERC20 and Cronos CRC20 MIR, and LUNA and ANC Perps, as the LUNA blockchain is currently inactive following a decision by its validators.

Crypto.com has also suspended all dollar-cost averaging (DCA) trading bots for LUNA on its exchange, reflecting a cautious approach to managing the ongoing volatility.