- Binance helps ORN-LUMIA swap and rebranding.
- The digital forex trade will delist all ORN buying and selling pairs.
- ORN worth fell following the delisting announcement by Binance.
Binance helps mainnet swap and rebrand of Orion Protocol (ORN) to Lumia (LUMIA). The cryptocurrency trade supplied an summary of its swapping and rebranding program, together with dates and course of.
On October fifteenth, Binance will delist all ORN buying and selling pairs and droop deposits and withdrawals. Nonetheless, the cryptocurrency trade will begin buying and selling LUMIA/USDT three days after the ORN delisting.
Knowledgeable customers of Binance can trade ORN tokens for LUMIA at a 1:1 ratio. Lumia’s whole provide will improve from 92.6 million tokens to 238.9 million tokens. Clients holding ORN on Binance don’t have to do something, because the cryptocurrency trade will deal with all technical modifications within the token swap course of.
Orion and Lumia bulletins trigger volatility
The Orion and Lumia bulletins prompted volatility within the ORN market, placing vital downward stress on the ORN/USD pair early on Monday. ORN worth rose to $1.718 earlier within the day earlier than plummeting to $1.367. The early morning drop marked a 20% drop for the cryptocurrency, which has seen vital bullish momentum because the first week of September.
Associated article: Orion protocol exploited to price $3 million as a result of reentrant bug
ORN began its bull market on September 4th, rising steadily and breaking by vital resistance. After rebounding from a low of $1.014 on September 4, the crypto asset's worth rose almost 70%, reaching a month-to-month excessive of $1.718 on Monday, September 30, in keeping with TradingView information.
Binance says the ORN-LUMIA migration is a part of its ongoing efforts to effectively handle technical and monetary necessities and adapt to the altering crypto panorama whereas minimizing potential disruption. mentioned.
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