Terra Luna Classic (LUNC) Price Increases by 5% Following Binance’s Announcement
The price of LUNC surges by 5% after cryptocurrency exchange Binance modifies the leverage and margin tiers of perpetual contracts, such as the 1000 LUNC/USDT perpetual contract.
On Monday, the largest cryptocurrency exchange in the world, Binance, announced that it would change the leverage and margin levels on several crypto perpetual contracts, notably the 1000LUNCUSDT perpetual contract. As soon as Binance made their news, LUNC traders reacted.
To keep an investment or trading position open, you’ll need to keep a quantity of cryptocurrency, called the maintenance margin, in a bank account at all times.
Maintenance for Terra Luna Classic Binance Raised the Margin Rate
The leverage, margin tiers, and capped funding rate of multiple perpetual contracts in Binance Futures will be adjusted, as announced by Binance on November 6.
“Pre-existing positions will be impacted by the upgrade. To avoid possible liquidation, Binance recommends adjusting position and leverage before the change.
Margin requirements for 0-5,000 LUNCUSDT permanent contact positions on Binance have increased, however leverage of 21-50x remains unchanged. It requires traders to retain more LUNC in deposit accounts for everlasting trading.
While this is happening, Binance has adjusted the leverage and margin levels for the following crypto perpetuals: TOMOUSDT, MINAUSDT, YFIUSDT, KLAYUSDT, ZILUSDT, QTUMUSDT, ENSUSDT, KSMUSDT, ONTUSDT, and SUSHIUSDT.
The maximum funding rate is likewise changed for the aforementioned digital currencies.
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Following Binance’s Announcement, LUNC Surges
Coinglass reports that as traders close short positions in 1000LUNC and LUNC, prices are rising. With 47% of the market share in the last 24 hours, 1000LUNC perpetuals have seen significant trading volume on Binance.
The price of LUNC has increased by 5% over the previous 24 hours, and is now worth $0.000067. Over the past 24 hours, the currency has ranged from $0.0000641 to $0.0000676. In addition, trading volume has grown during the past day.
Meanwhile, USTC pricing trades at $0.0116, up more than 1% in the past 24 hours. Despite this, the volume of trades remained modest.
Where to Trade LUNCUSDT Futures?
Now you can trade LUNC futures on BTCC. BTCC, a cryptocurrency exchange was founded in June 2011 with the goal of making crypto trading reliable and accessible to everyone. BTCC is a crypto exchange offering users liquid and low-fee futures trading of both cryptocurrencies and tokenized traditional financial instruments like stocks and commodities.
BTCC offers exclusive bonus for new users. Sign up and deposit on BTCC to get up to10,055 USDT in bonuses. Meet the deposit targets within 30 days after successful registration at BTCC, and you can enjoy the bonus of the corresponding target levels. Find out what campaigns are available now: https://www.btcc.com/en-US/promotions
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How to Trade Tether (USDT) on BTCC
- Mobile App
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- 1. Download the BTCC App via App Store or Google Play
- 2. Register and verify your account, or log in to your BTCC account.
- 3. Tap ‘Buy Crypto’.
- *Please note that only verified users are eligible to buy crypto on BTCC.
- 4. Enter the amount you would like to buy in USDT.
- 5. Select a service provider and proceed to payment.
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How to Trade LUNCUSDT Futures on BTCC ?
To trade Crypto Futures on BTCC, follow these simple steps:
- Create an account
Go to the BTCC website and fill out the registration form with the necessary details. Finish the checks to make sure you’re in line with the stock exchange’s rules.
- Deposit funds
Fund your BTCC wallet once your account has been created and verified. You can fund your BTCC account with a number of different cryptocurrencies and fiat currencies.
- Navigate to the crypto trading section
You can begin trading on the BTCC platform as soon as your account has been funded. Find the crypto exchange rate, which is written as crypto/Bitcoin (BTC) or crypto/US Dollar (USDT) depending on the other pairs available.s.
- Choose your trading type
Both spot trading and futures trading are available through BTCC. If you want to purchase or sell crypto tokens at the current market price, you may want to investigate spot trading. If you’d rather trade crypto with leverage and speculate on its price movements, you can do so with crypto Futures.
- Place your trade
After deciding which type of deal you want to make, you can enter the amount of crypto you like to buy or sell, as well as your preferred price (if necessary). If everything checks out, go ahead and make the deal.
- Monitor and manage your trades
Be sure to monitor your crypto holdings on the BTCC exchange. To limit losses and protect gains, you can use stop-loss and take-profit orders. It is also important to keep up with the latest crypto market trends and news if you want to successfully trade this cryptocurrency.
Before becoming involved in any kind of trading, make sure you’ve done your homework. Due to the extreme volatility of the cryptocurrency markets, it is crucial to have a well-defined trading strategy and risk management framework in place. To successfully trade crypto on the BTCC market and take advantage of the chances it provides, follow these procedures and keep yourself updated.
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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.
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