Binance has suspended withdrawals of the LUNA and UST tokens

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Due to "network slowness and congestion," Binance has halted withdrawals of the LUNA and UST coins.

 

- Binance said in a statement that once the network is stable and the volume of pending withdrawals has decreased, it will reopen withdrawals for these tokens.

- Traders stated that the orderbook for LUNA and UST appeared to be stopped on Tuesday AM Asia time, with no orders going through.

- Traders have been unable to sell UST for less than 70 cents, according to sources on Twitter.

- "Please do not spam the public infrastructure at this time, as we are experiencing naturally high transaction volumes. Please be considerate of our shared infrastructure "Terra's official Twitter account tweeted something. "Please be considerate of our shared infrastructure."

- The Luna Foundation Guard (LFG) currently has $171.4 million in USD in reserve, down 85 percent from the day before, $86.82 million in UST in reserve, down 41 percent from the day before, and $84.5 million in AVAX in reserve.

- The LFG's bitcoin reserves, which were liquidated to underpin the peg, have been depleted.

- Withdrawals from Kraken and CoinList have also been halted at this time. Withdrawals of UST are still being processed by FTX.

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