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HomeExchange NewsLUNC, USTC Deposits and Withdrawals Will Be Halted by FTX

LUNC, USTC Deposits and Withdrawals Will Be Halted by FTX

Revenue Growth of FTX Surges by Over 1000% To $1.02B in 2021
  • FTX will suspend deposits and withdrawals of LUNC and USTC.
  • The exchange will also stop its support for Anchor Protocol (ANC) token.

According to the recent announcement from the prominent cryptocurrency exchange, FTX, the deposits and withdrawals of Terra Classic (LUNC) and TerraClassicUSD (USTC) will be halted by the platform on September 12. However, the exchange will continue the “convert function” for LUNC and USTC. 

As per the announcement, FTX recommends that the deposits and withdrawals be completed before the deadline. After the deadline, it will not be credited to the wallets.

FTX to Stop Support for Anchor Protocol

FTX will also stop its support for Anchor Protocol (ANC) token, from September 12. All ANC/USD and ANC-PERP orders will be canceled by FTX, along with trading on those markets and the suspension of ANC deposits and withdrawals. ANC-PERP will also cash-expire to a 1-hour TWAP of the values of its relevant indexes. However, the cryptocurrency exchange will offer the “convert function” for ANC. 

Last week, FTX announced its support for the Terra Classic (LUNC) network upgrade. Following a successful update, it reopened withdrawals for all Terra Classic tokens. Additionally, before the closing of the Shuttle Bridge, Binance also announced the suspension of Terra Classic and TerraClassicUSD. 

Moreover, at the time of writing, Terra Classic (LUNC) is now trading around $0.000287 with a one-day trading volume of $648,237,108. The token registered an 18.86% increase in the last 24 hours, as per CMC.

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