Due to the congestion of Terra (LUNA) network, resulting in the accumulation of a large number of pending withdrawal transactions, the well-known exchange Biance announced to suspend the withdrawal business of Luna and ust tokens The suspension time starts from 10:20 Beijing time on May 10, 2022, and the reopening date depends on the situation.
Coin Security said that once the Terra (LUNA) network returns to stability and the pending withdrawal transactions are reduced, coin security will reopen the withdrawal business.
According to reports on twitter, traders cannot sell ust for less than 70 cents. Terra's official account tweeted: "if you are using public infrastructure, please don't send spam at this time because we are experiencing a naturally high level of transaction volume. Please pay attention to our public infrastructure usage."
At present, the reserve of Luna foundation guard (LFG) is USD 171.4 million, 85% lower than the previous day, ust is USD 86.82 million, 41% lower than the previous day, and avax is USD 84.5 million. LFG has exhausted its bitcoin reserves, which have been liquidated to support the peg.