New Terra (LUNA) Opens as High as $30 on Bybit, then Crashes by 80% Leading Binance to Take a More Cautious Route

Binance Opts for a More Cautious Approach in Listing the New Terra (LUNA) Digital Asset

Consequently, the volatility witnessed by the new Terra (LUNA) digital asset has led Binance to announce that it will be listing it in the innovation zone. Additionally, the trading of LUNA/USDT and LUNA/BUSD trading pairs will be delayed till May 31st at 6 am UTC.

The Binance Innovation Zone is ‘a dedicated trading zone where users are able to trade new tokens that may have increased volatility and pose a higher risk than other tokens.’

Before Binance users can trade digital assets in the innovation zone, they are ‘required to visit the web version of the Innovation Zone trading page to carefully read the Binance Terms of Use and complete a questionnaire as part of the Initial Disclaimer.’

Terra 2.0 Launched Earlier Today with its Mainnet of Phoenix 1 Going Live

Also, today, May 28th, the new chain of Terra (LUNA) was launched by the team at 6 am UTC. The team at Terra also announced that the new blockchain would have a Chain_id of ‘Phoenix 1’.

The team announced the launch of the new Terra chain through the following tweet.

1/ Block 1 of the brand new Terra blockchain (with a chain_id of “Phoenix-1”) has officially been produced at 06:00 AM UTC on May 28th, 2022!

Congratulations to the #LUNAtic community on this expeditious feat of collaboration 🎉

— Terra 🌍 Powered by LUNA 🌕 (@terra_money) May 28, 2022

Similarly, Do Kwon notified the Terra Community of the new chain stating that ‘Pheonix-1 mainnet is now live and producing blocks – public node services, wallets, and explorers should be going live shortly.’

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