BitMEX Announces Terra Classic (LUNC) Perpetual Contract Listing After USTC

Crypto exchange BitMEX, co-founded by billionaire Arthur Hayes, has announced a plan to list Terra Classic (LUNC) perpetual contract. The move came amid a massive three-digit rally in Terra Classic tokens LUNC and USTC. BitMEX even launched a TerraClassicUSD (USTC) perpetual contract, offering up to 10x leverage.

BitMEX Listing Terra Luna Classic (LUNC) Perpetual Contract

According to an official announcement on December 5, BitMEX revealed that it is listing LUNC perpetual contract amid the massive rally. It offers up to 10x leverage on LUNCUSDT perpetual.

Users can start trading LUNCUSDT perpetual contract from December 6 at 04:00 UTC. The minimum trade amount is 1000 LUNC and base initial margin of 10.00%.

Last week, BitMEX also announced USTC perpetual contract listing after carefully watching the USTC rally for weeks. The USTCUSDT perpetual also had a leverage of up to 10%.

Also Read: Terra Luna Classic Proposal Passes Despite Concerns, LUNC Falls 10% USTC 15%

LUNC and USTC Rally

Terra Luna Classic extended its rally to really 300% in a month and 150% in a week. The rally was triggered by TerraClassicUSD (USTC), which jumped 400% in a month. The Mint Cash news and Binance launching USTC perpetual contract, and new USTC trading pairs triggered the recent surge in prices.

Binance burning 4 billion LUNC and announcing a new LUNC pair with the Turkish lira (TRY) amid market-wide recovery became the reasons for a rally this week.

LUNC price fell more than 10% in the last 24 hours after falling from a high of $0.000275. The price rallied 150% rally in a week, with the price currently trading at $0.000238. Furthermore, the trading volume has decreased by 20% in the last 24 hours, indicating a decline in interest among traders.

Meanwhile, USTC price trades at $0.055, down 6% after a massive rally this week. The 24-hour low and high are $0.0529 and $0.0647, respectively. Moreover, the trading volume fell 33% in the past 24 hours.

The overall sentiment remains bullish despite some profit booking in LUNC and USTC.

Also Read: Binance Launches Zero-Fee Trading For XRP, ETH, SOL, DOGE, LINK, BNB

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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