(Binance) Binance has temporarily suspended withdrawals of LUNA and UST tokens, citing high levels of transaction volume.
The move by Binance happens a day after UST lost peg against the US dollar, which prompted the Luna Foundation Guard to start lending its Bitcoin and TerraUSD reserves.
At the moment, LFG controls around $171.4 million USD in reserves, which is 85% below the previous day. The UST reserves are estimated at $86.82 million, down by 41% from the previous day, while $84.5 million is in AVAX.
Binance said that it will reopen the withdrawals for the suspended tokens once the networks regain stability and the pending withdrawals go lower.
Other crypto exchanges, Kraken and CoinList, have also suspended the withdrawals.
LUNAUSD is up +8.25%, BTCUSD is up +5.85%.
