Famous derivatives cryptocurrency exchange FTX has released an announcement for 3 altcoins. Accordingly, two altcoins have suspended transactions and one altcoin delisted. The announcement deeply concerns investors.
FTX announced for these 3 altcoins
Crypto derivatives exchange FTX on Monday announced that it will suspend transactions related to two altcoin projects. Altcoins for which the exchange will suspend deposits and withdrawals; Terra Classic (LUNC) and TerraClassicUSD (USTC). Accordingly, users will not be able to make withdrawals and deposits with these altcoins as of September 12, 17:00 TSI. The famous derivatives exchange also announced its decision to end support for Anchor Protocol. Accordingly, FTX will delist ANC. Thus, ANC will completely suspend spot and futures trading on September 12.
FTX, LUNC and USTC to suspend deposits and withdrawals
FTX Wallet will no longer support deposit and withdrawal services. However, the crypto exchange will continue to support the “convert feature” for LUNC and USTC. FTX recommended that deposits and withdrawals be completed before the deadline. Deposits and withdrawals made after the due date will not be credited to wallets.
Therefore, it is beneficial for investors to carry out their transactions until September 12, the relevant date. On August 26, the derivatives exchange announced that it supports LUNC network upgrade. FTX has reopened withdrawals for all Terra Classic tokens after a successful upgrade.
FTX delists Anchor Protocol
Additionally, FTX has announced that it will delist Anchor Protocol (ANC). Accordingly, ANC will cut support for spot and futures markets. The removal of this support will take place on September 12 at 17:00 CET. FTX will cancel all ANC/USD and ANC-PERP transactions. It will also end trading with ANC/USD and ANC-PERP trading pairs. Thus, eventually, ANC will completely terminate deposits and withdrawals.
Binance also suspended Terra
Binance previously announced the suspension of Terra Classic and USTC due to Shuttle Bridge shutdown. Thus, Terra Classic (LUNC) had finished depositing and withdrawing funds over the Ethereum network. However, users can continue to use the Terra Classic network to deposit and withdraw LUNC and USTC tokens.
Despite the crisis, the altcoin project has received community support
As we reported as Kriptokoin.com, Terra crashed in May. With this collapse, Terra had taken the money market with him. Terra, which was shown among the safest and best altcoin projects until then, had reduced its price to zero. Subsequently, many investors sued the project and its founder Do Kwon for their lost funds. While these cases are still pending, the Terra team has opened up on a new project. The new altcoin with two tokens, Terra Classic and TerraClassicUSD, seems to have received investor support.
The Terra community continues to support the new project, despite the crisis, lawsuits and many suspicious events. In fact, all new Terra cryptos are seeing massive daily trading volumes. The community aims to recover prices through burning, staking, building projects, ecosystem education and governance. Terra Classic price has gained about 13% in the last 24 hours. At the time of writing, it is trading at $0.0027.
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