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Due to this recent LUNA crash, Binance is Taking More Cautious steps

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As a result of the new Terra (LUNA) digital asset volatility, Binance has announced that it will be listed in the innovation zone.

The much-anticipated LUNA token from the new Terra blockchain is now available for purchase on several exchanges, with prices as high as $30 on Bybit. 

However, in the same market, the digital asset dropped over 88 percent to $3.5 before rebounding to finish at $6, still an 80% decrease from its previous peak.

The chart below, courtesy of Bybit.com, shows the ongoing volatility surrounding the new LUNA in more detail.

Slower Approach toward LUNA

Binance Takes a Slower Approach to List the New Terra (LUNA) Digital Asset.

Furthermore, trading of the LUNA/USDT and LUNA/BUSD trading pairs will be postponed until May 31st at 6 a.m. UTC.

The Binance Innovation Zone is a “special trading zone where users may trade innovative tokens that may have more volatility and risk than other tokens,” according to the company.

Users must first visit the online version of the Innovation Zone trading website to read the Binance Terms of Use and answer a questionnaire as part of the Initial Disclaimer before trading digital assets in the innovation zone.

Terra 2.0 was launched earlier today, with the Phoenix 1 Mainnet becoming live.

The team also released the new Terra (LUNA) chain today, May 28th, at 6 a.m. UTC. 

The Terra team also revealed that the new blockchain’s Chain id will be ‘Phoenix 1’.

The following tweet was used to announce the introduction of the new Terra chain.

Do Kwon also informed the Terra Community about the new chain, saying, “Pheonix-1 mainnet is currently online and creating blocks — public node services, wallets, and explorers should be going live shortly.”

ALSO READ: Fantom Price Analysis: FTM Still Inside a Descending Parallel Channel, What’s the Escape Plan?

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