Leading US-based cryptocurrency exchange Poloniex has recently announced that it will list Terra ecosystem tokens, despite the controversy surrounding the project. In addition, listing news of 12 altcoin projects came from 5 cryptocurrency exchanges, including BitMart.
Listing gospel for Terra tokens LUNA and LUNC!
Poloniex announced this week that it will list Terra (LUNA) and Luna Classic (LUNC) tokens on its trading platform. According to the announcement, users can start depositing both LUNC and LUNA tokens into their Poloniex accounts from August 17, 2022.
Once the exchange has sufficient liquidity, it will begin trading on August 17, 2022. Poloniex added that both LUNA and LUNC tokens will be paired with Tether stablecoin (USDT) and Tron’s stablecoin (USDD). “We are excited to welcome Terra (LUNA) and Terra Luna Classic (LUNC) at Poloniex,” the exchange said in a statement.
Terra’s downfall, rebirth, and controversies
As you follow on Kriptokoin.com, the Terra project suffered a dramatic collapse. The value of the ecosystem’s tokens UST and LUNA dropped to almost zero in early May. Since then, Terra has been the subject of much controversy. The incident caused several cryptocurrency exchanges, including Poloniex, to cease support for LUNA tokens in an effort to protect their users from the massive drop.
After the massive collapse of Terra tokens, TerraForm Labs (TFL), the company behind the project, made a new move. The company created new LUNA tokens and Blockchain to bring investors back together. The new name of the old LUNA tokens is Luna Classic. The new ones retained the LUNA name. TFL airdropped the new LUNA tokens to Terra investors based on a special calculation. However, not all investors received what was supposed to be allocated to them. Terra, in particular, plans to address the issue in a new proposal being created today.
Meanwhile, efforts to integrate investors didn’t quite work. LUNA tokens continued to drop drastically after going live. According to data on Coinecko, LUNA is down almost 90% from its all-time high (ATH). LUNC is reset. Interestingly, it lists Poloniex’s Terra tokens. According to experts, this move could be part of an effort to make the tokens available to many traders. This is likely to increase their value again.
Other altcoin projects entering the stock market
Cryptocurrency exchange BitMart is adding support for 4 altcoin projects, one FAN token. The tokens to be added to the list are Alnassr FC Fan Token (NASSR), Mancium Token (MANC), Laika (LAIKA) and Rare FND (FND).
Another crypto exchange BKEX includes METFX (MFX) in its list. Cryptocurrency exchange Bitrue will add support to altcoin projects FRAX (FRAX) and FoodChain Global (FOOD). Meanwhile, LBank will list Santos FC Fan Token (SANTOS) and FC Porto (PORTO). Finally, MEXC Global will allow trading of XMON (XMON), Grove (GVR) and Monsterra (MSTR).
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