Gemini

Zebec

Synthetix

Terra

<p>Gemini crypto exchange has revealed plans to delist some digital currencies. The list included Terra Luna Classic (LUNC), Synthetix (SNX), Qredo (QRDO), and Zebec (ZBC).</p>
<p>The tokens are to be delisted on the 20th of September, 2024. It is recommended that users transfer these tokens to other wallets before that date.</p>
<p>This comes after Gemini conducted a standard review. They concluded that these assets do not meet the required listing criteria of the exchange.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="tr" dir="ltr">Gemini borsası <a href="https://twitter.com/hashtag/LUNC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#LUNC</a>'u delist edeceğini duyurdu.<br><br>20 Eylül'de delist işlemi gerçekleşecek!<br><br>BTCTurk ve sonrasında GEMİNİ borsasının delist haberlerini bağlantılı olarak değerlendiriyoruz. TFL giderken bu yaşananlar tesadüf olamaz.<br><br>Madem delist edecektin ilk günden neden yapmadın… <a href="https://t.co/QuI6wZ71zT" rel="noopener noreferrer nofollow">pic.twitter.com/QuI6wZ71zT</a></p>— Terra Haber Portalı (@TerraHaberTr) <a href="https://twitter.com/TerraHaberTr/status/1825635420660457486?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 19, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<h2 class="wp-block-heading" id="h-gemini-crypto-exchange-delisting-lunc-snx-qrdo-and-zbc"><strong>Gemini Crypto Exchange Delisting LUNC, SNX, QRDO, and ZBC</strong></h2>
<p>Gemini’s move to delist these&nbsp;<a href="https://www.thecoinrepublic.com/2024/07/02/4-industries-that-thrive-with-cryptocurrency-adoption/" rel="noopener noreferrer nofollow">cryptocurrencies</a>&nbsp;arises from evaluating the assets on its market. The exchange regularly assesses the sustainability, market applicability, and future prospective of tokens traded.</p>
<p>Based on this evaluation, Gemini decided that LUNC, SNX, QRDO, and ZBC are no longer relevant. These tokens were not relevant for its business strategy and thus will cease trading these tokens soon.</p>
<p>The delisting has raised controversy among the community, especially regarding the possibility of an exchange misunderstanding between wLUNA and LUNC. However, Gemini has not offered any explanation on this matter until the time of filing this report.</p>
<p>After the delisting announcement, the LUNC price still increased by 2%, showing a general recovery in the cryptocurrency market.</p>
<h2 class="wp-block-heading" id="h-community-reactions-and-important-legal-updates"><strong>Community Reactions and Important Legal Updates</strong></h2>
<p>The news has sparked controversy among the crypto community, with some questioning the reason behind this decision to delist these tokens. There are also questions regarding the possible clash between wLUNA and LUNC, which Gemini has yet to answer.</p>
<p>Meanwhile, the Terra Luna Classic community remains actively engaged in advancing the Terra ecosystem. An important development for the community is the Plan Confirmation Hearing in the Chapter 11 bankruptcy cases of Terraform Labs Pte Ltd (TFL) and Terraform Labs Limited (TLL).</p>
<p>This&nbsp;<a href="https://drive.google.com/file/d/18mBtei8mPNfqUtRKHUSyHGI_wPl55gTH/view?pli=1" rel="noopener noreferrer nofollow">hearing</a>&nbsp;is set for Tuesday, September 19, 2024 at 10:00 a.m. (ET) which is a day prior to the LUNC delisting from the Gemini exchange. This legal proceeding is significant because its outcome will define the further fate of Terraform Labs and all of its assets</p>
<h2 class="wp-block-heading" id="h-terra-luna-classic-community-pushes-for-ustc-repeg"><strong>Terra Luna Classic Community Pushes for USTC Repeg</strong></h2>
<p>Aside from the delisting, the&nbsp;<a href="https://www.thecoinrepublic.com/2024/08/03/terra-classic-lunc-struggles-despite-binances-1-15-billion-token-burn/" rel="noopener noreferrer nofollow">Terra Luna Classic</a>&nbsp;community is still in the process of attempting to stabilize the USTC algorithmic stablecoin to be associated with the US Dollar. A new proposal has provided $250,000 to design a sound re-pegging strategy. This proposal intends to explain the basic needs of the new system, which are stability, security, transparency, decentralization, and scalability.</p>
<p>Nevertheless, the Terra community is still focused on the further development of the Terra ecosystem in view of the delisting that will occur in the near future. If the development efforts progress and are successful, the bounty may surge to over $5 million from the $1M offer and $250k initially offered.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">•After the feedback from the community i have come to a decision to propose 5M USD bounty.<br><br>&gt;Repeg System for Terra Luna Classic (LUNC) – $5,000,000 USD Bounty**<br><br>The Terra Luna Classic community, in its pursuit to restore the stability and value of <a href="https://twitter.com/search?q=%24USTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$USTC</a>, hereby announces a… <a href="https://t.co/7uVII9vOKz" rel="noopener noreferrer nofollow">https://t.co/7uVII9vOKz</a></p>— NB_CRYPT0 (@NB_CRYPT0) <a href="https://twitter.com/NB_CRYPT0/status/1825847712748572833?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 20, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>As the September 20 deadline draws near, Gemini exchange users are urged to withdraw their LUNC, SNX, QRDO, and ZBC tokens. However, the general trend of the cryptocurrency market improving along with other activities within the Terra ecosystem may help to reduce some of the negative effects.</p>
<p>The post <a href="https://www.thecoinrepublic.com/2024/08/21/gemini-crypto-exchange-to-end-support-for-lunc-snx-qrdo-zbc-next-month/" rel="noopener noreferrer nofollow">Gemini Crypto Exchange to End Support for LUNC, SNX, QRDO, ZBC Next Month</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.</p>

Gemini Crypto Exchange to End Support for LUNC, SNX, QRDO, ZBC Next Month

Table of Contents

Thecoinrepublic.com

Other articles published on Aug 22, 2024

Connect With Your Local Mint Hub Today, Apply to be your Local Hub Manager

Floki DAO Compensates Simon’s Cat with $223,815 Amid Presale Issue

Ethereum (ETH) Eyes $3,000 as Low Selling Signals End of Downtrend—Analyst Insights

Kamala Harris Pledges Crypto Support with Favorable Policies

Brazil Approves Second Solana ETF While U.S. Approval Remains Uncertain

Top Analyst Shares XRP Bullish Outlook Pointing to Massive Price Rally

Join our free newsletter for daily crypto updates!