BitMEX Adds Terra Luna Classic (LUNC) Perpetual Contract
Crypto exchange BitMEX, founded by Arthur Hayes, has announced the addition of the LUNC perpetual contract to its platform. This move comes as LUNC and USTC experience significant rallies. BitMEX has also introduced a TerraClassicUSD (USTC) perpetual contract with leverage of up to 10x.
Details of the Listing
According to an official announcement from BitMEX on December 5, users can begin trading the LUNCUSDT perpetual contract from December 6 at 04:00 UTC. The minimum trade amount is set at 1000 LUNC, with a base initial margin requirement of 10%.
Last week, BitMEX also listed the USTC perpetual contract after closely monitoring its rally. The USTCUSDT perpetual contract also offers leverage of up to 10%.
LUNC and USTC Rally
Terra Luna Classic has seen a remarkable rally, with a 300% increase in one month and a 150% increase in one week. This surge was driven by the performance of TerraClassicUSD (USTC), which saw a 400% jump in one month. News about Mint Cash and Binance launching a USTC perpetual contract, as well as new USTC trading pairs, contributed to the recent price surge.
The rally continued this week as Binance burned 4 billion LUNC tokens and announced a new LUNC pair with the Turkish lira (TRY) amidst a market-wide recovery.
Despite a 10% decrease in the last 24 hours, with the price currently at $0.000238, LUNC still experienced a 150% rally within a week. Additionally, the trading volume has decreased by 20% in the last 24 hours, indicating a decline in trader interest.
Meanwhile, USTC is currently trading at $0.055, down 6% after its significant rally this week. The 24-hour low and high are $0.0529 and $0.0647, respectively. Furthermore, the trading volume has fallen by 33% in the past 24 hours.
Despite some profit booking in LUNC and USTC, overall sentiment remains bullish.
Hot Take: BitMEX Expands Offering with Terra Luna Classic (LUNC) Perpetual Contract
BitMEX’s decision to list the LUNC perpetual contract showcases its commitment to offering a diverse range of cryptocurrency derivatives to its users. The addition of LUNC comes at a time when both LUNC and USTC have been experiencing significant rallies, driven by various factors including new trading pairs and market-wide recovery. With leverage of up to 10x, traders can take advantage of the price movements in these tokens. Despite recent declines in prices and trading volumes, the overall sentiment towards LUNC and USTC remains positive as investors continue to closely monitor their performance.
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