The cryptocurrency landscape is evolving rapidly, and recent developments from leading exchange Gemini have sparked renewed discussions across the digital asset community. Gemini has officially announced the delisting of Terra Luna Classic (LUNC), along with Synthetix (SNX), Qredo (QRDO), and Zebec (ZBC). This strategic move follows a comprehensive review of the assets currently listed on the platform, reflecting the exchange's ongoing commitment to maintaining a robust and compliant trading environment.
Users will no longer be able to trade these tokens after September 20. Gemini strongly advises holders to withdraw their holdings to external wallets before the deadline to avoid potential complications or loss of access.
"We consistently review the markets for the various assets we support. At times, we reassess the value of having certain assets listed on our exchange, and as a result of our most recent review have determined to take the actions outlined above," Gemini stated in an official communication.
This proactive asset management approach underscores Gemini’s focus on regulatory alignment, market demand, and long-term sustainability—key factors shaping today’s crypto exchange policies.
Why Is LUNC Being Delisted?
While Gemini has not provided specific reasons for delisting LUNC, industry analysts speculate that low trading volume, limited liquidity, and evolving compliance requirements may have influenced the decision. Despite this, the Terra Classic ecosystem continues to show signs of resilience and development activity.
A notable point of contention within the community is Gemini’s reference to wLUNA (wrapped LUNC) as simply LUNC in its communications. Some users argue this creates confusion, as wLUNA operates differently from native LUNC tokens. However, both are tied to the Terra Classic blockchain and share similar economic properties.
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Terraform Labs’ Bankruptcy Hearing: A Turning Point?
In a significant development, Terraform Labs (TFL) has confirmed that its Chapter 11 bankruptcy hearing will begin in mid-September—coinciding closely with Gemini’s delisting timeline. This legal process is widely seen as a pivotal moment for the future of the Terra Classic network.
The announcement has surprisingly bolstered investor sentiment. Markets often react negatively to delistings, but in this case, growing optimism around TFL’s restructuring efforts appears to be counterbalancing the negative impact.
Additionally, Terraform Labs recently reopened the Shuttle Bridge, allowing users to redeem wrapped assets from bridge wallets within a 30-day window. This move aims to restore trust and improve token utility across the ecosystem.
Market Reaction: Is LUNC Price Holding Steady?
Despite initial concerns, LUNC price has remained relatively stable, showing a 2% increase over the past 24 hours. The token traded between $0.0000789 and $0.00008246, indicating tight range-bound movement. However, trading volume declined by 25%, suggesting reduced short-term speculative interest amid broader market volatility.
Interestingly, this muted reaction could signal maturation in market response—investors may now be focusing more on fundamental developments than exchange-specific news alone.
Meanwhile, USTC (TerraClassicUSD) has shown stronger momentum. The price currently trades at $0.01663, supported by growing speculation around a potential repeg event. Futures open interest rose by 1%, while major platforms like Binance, BingX, and Bybit recorded significant buying pressure—an encouraging sign for USTC holders.
Key Cryptocurrencies Affected by Gemini’s Delisting
Gemini’s decision impacts four major digital assets:
- Terra Luna Classic (LUNC)
- Synthetix (SNX)
- Qredo (QRDO)
- Zebec (ZBC)
Each of these projects serves unique roles within decentralized finance (DeFi), but declining on-chain activity and reduced exchange visibility may have contributed to their removal. For users holding any of these assets, timely withdrawal is essential.
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FAQs: Your Questions About the LUNC Delisting
Why is Gemini delisting Terra Luna Classic?
Gemini conducts regular reviews of listed assets based on liquidity, trading volume, compliance standards, and market demand. While no explicit reason was given for delisting LUNC, it likely stems from one or more of these factors.
What happens to my LUNC after September 20?
After the delisting date, you won’t be able to trade LUNC on Gemini. However, you can still withdraw your tokens to a personal wallet. Failure to do so may limit future access if withdrawal options are eventually disabled.
Is wLUNA the same as LUNC?
Not exactly. wLUNA refers to a wrapped version of LUNC, often used across different blockchain networks via bridges. While functionally similar in many cases, they are technically distinct tokens. Gemini’s use of “LUNC” may refer to wLUNA due to its integration method.
Could this delisting cause LUNC’s price to crash?
Historically, delistings can trigger sell-offs, but recent market behavior suggests otherwise. With positive developments like the Shuttle Bridge relaunch and upcoming bankruptcy proceedings, investor confidence may help stabilize or even support price recovery.
Are other exchanges planning to delist LUNC?
As of now, no major exchanges besides Gemini have announced plans to delist LUNC. Binance and OKX continue to support trading pairs involving LUNC and USTC, which helps maintain market liquidity.
What should I do if I hold SNX, QRDO, or ZBC on Gemini?
Follow the same protocol: withdraw your holdings before September 20. Consider transferring them to another exchange that supports these tokens or storing them securely in a non-custodial wallet.
The Bigger Picture: Exchange Listings and Crypto Longevity
Delistings are not uncommon in the crypto space. Exchanges must adapt to changing regulations, user behavior, and technological advancements. While unsettling for some investors, these actions often reflect efforts to enhance platform integrity and user protection.
For projects like Terra Luna Classic, continued development—even amid adversity—demonstrates resilience. Community-driven initiatives, bridge relaunches, and legal restructuring all contribute to long-term viability.
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Final Thoughts
Gemini’s decision to delist Terra Luna Classic and three other tokens marks another chapter in the maturation of the cryptocurrency industry. While short-term volatility is expected, underlying developments within the Terra Classic ecosystem suggest that all may not be lost for dedicated supporters.
Investors should remain vigilant, monitor official announcements, and take proactive steps to manage their holdings. In a fast-moving digital asset world, adaptability is key—not just for exchanges, but for every participant in the ecosystem.
As regulatory scrutiny increases and market dynamics shift, expect more exchanges to follow similar asset review practices. Staying informed and prepared will empower users to navigate these changes confidently and securely.
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