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- Binance to help the ORN-LUMIA swap and rebranding.
- The crypto trade will delist all ORN buying and selling pairs.
- ORN’s worth declined following the delisting announcement by Binance.
Binance will help the Orion Protocol’s (ORN) mainnet swap and rebranding to Lumia (LUMIA). The crypto trade outlined the swapping and rebranding program, together with the dates and processes.
On October fifteenth, Binance will delist all ORN buying and selling pairs and pause deposits and withdrawals. Nevertheless, the crypto trade will open buying and selling for LUMIA/USDT three days after the ORN delisting.
Binance knowledgeable customers can swap their ORN tokens to LUMIA on a 1:1 ratio. Lumia’s whole provide will enhance from 92.6 million to 238.9 million tokens. The crypto trade will deal with all technical adjustments within the token swap course of, so clients holding ORN on Binance don’t must take any motion.
Orion-Lumia Announcement Triggers Volatility
The Orion-Lumia announcement brought on volatility within the ORN market, with the ORN/USD pair seeing important downward stress early Monday. ORN’s worth dropped sharply to $1.367 after rallying to $1.718 earlier within the day. The early morning drop was a 20% pullback for the cryptocurrency, which has seen notable bullish momentum because the first week of September.
Learn additionally: Orion Protocol Exploited for $3M Resulting from Reentrancy Bug
ORN started an upward rally on September 4, climbing steadily and breaking via notable resistance. The crypto asset’s worth gained almost 70% after rallying from a $1.014 low on September 4, reaching a $1.718 month excessive on Monday, September 30, in keeping with knowledge from TradingView.
Binance stated the ORN-LUMIA transition is a part of its steady efforts to adapt to the altering cryptocurrency panorama, managing technological and monetary necessities effectively whereas minimizing potential disruptions.
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