Binance Temporarily Halts Deposits Amid Terra Luna’s 29% Surge Driven by Upgrade and Token Burns

Terra Luna (LUNC) has experienced a significant price surge of 29%, driven by a confluence of technical upgrades, aggressive token burns, and heightened market attention surrounding ongoing legal proceedings. The rally coincides with the successful implementation of the Terra Chain v2.18 upgrade on December 8, 2025. This network enhancement addressed critical bugs, improving overall blockchain efficiency and stability. The upgrade's rollout prompted major exchanges, including Binance, to temporarily pause LUNC deposits as a precautionary measure to ensure network stability during the transition. This operational pause by a leading exchange underscores the upgrade's significance and the platform's commitment to secure trading environments. Alongside the technical catalyst, aggressive community-driven token burn initiatives have continued to reduce LUNC's circulating supply, applying upward pressure on its price. The token has seen daily trading volumes exceed $200 million, reflecting robust market participation. However, the bullish momentum is set against a backdrop of legal uncertainty. The sentencing for Terraform Labs co-founder Do Kwon is scheduled for December 11, 2025, with prosecutors seeking a significant penalty. This impending legal event adds a layer of volatility and speculative interest to the asset's current performance. In summary, Terra Luna's recent surge is a multifaceted event. The successful v2.18 upgrade has bolstered network fundamentals, while coordinated token burns aim to create scarcity. The temporary deposit halt by Binance highlights the mainstream crypto infrastructure's responsive protocols during major network events. Meanwhile, the shadow of Do Kwon's upcoming sentencing serves as a reminder of the project's turbulent history, making LUNC's current price action a complex interplay of technical progress, economic mechanics, and unresolved legal drama. The market's response will be further tested as these narratives develop in the coming days.

Terra Luna Surges 29% Amid Upgrade, Legal Drama, and Token Burns

Terra Luna’s 29% surge reflects a trifecta of catalysts: the Terra Chain v2.18 upgrade, Do Kwon’s impending sentencing, and aggressive LUNC token burns. The December 8 network upgrade resolved critical bugs, boosting efficiency and driving $200M+ daily trading volume. Exchanges like Binance paused deposits during the rollout to ensure stability.

Legal uncertainty swirls around Do Kwon’s December 11 sentencing, with prosecutors demanding 12 years versus his team’s plea for five. The verdict’s shadow has reignited speculative interest in Terra-related assets.

Meanwhile, Terra Classic (LUNC) burns accelerated dramatically, with 1.57B tokens destroyed last week alone. Binance-led efforts have now eliminated 428B LUNC from circulation—a deflationary tailwind for the embattled ecosystem.

Tether’s USDT Gains Regulatory Approval in Abu Dhabi Across Nine Blockchains

Abu Dhabi Global Market (ADGM) has granted regulatory recognition to Tether’s USDT stablecoin as an accepted fiat-referenced token, expanding its approved blockchain networks to include Aptos, Celo, Cosmos, Kaia, Near, Polkadot, Tezos, TON, and TRON. Licensed firms in ADGM can now offer regulated trading, custody, and other services involving USDT on these networks.

The move builds on earlier approvals for USDT on Ethereum, Solana, and Avalanche, reinforcing Abu Dhabi’s position as a crypto-friendly jurisdiction. Meanwhile, Ripple’s RLUSD stablecoin also received approval, and Binance secured full authorization to operate under ADGM’s framework starting January 2026.

Market participants view this as a significant step toward institutional adoption of stablecoins in the Middle East, with ADGM emerging as a key hub for regulated digital asset activity.

Cardano’s ADA Rises 4% on Binance’s Midnight Token Listing

Cardano (ADA) surged 4% to $0.435 after Binance announced it WOULD list Midnight Network’s NIGHT token on December 9. The move triggered an 85% spike in ADA trading volume within 24 hours, with whale wallets accumulating 160 million tokens since December 2.

Midnight, a zero-knowledge proof network built on Cardano, positions itself as a privacy-focused competitor to chains like Zcash and Monero. Binance Alpha users will have exclusive access to NIGHT airdrops, further fueling market interest.

The listing underscores growing institutional appetite for privacy-centric Layer 2 solutions. ADA’s price action reflects renewed Optimism in Cardano’s ecosystem, though it remains down 90% from its 2021 peak.

Fake BlackRock Staked Aster ETF Filing Debunked by CZ

A fabricated screenshot alleging BlackRock's filing for a Staked Aster ETF circulated widely on crypto Twitter, prompting temporary market excitement before being exposed as a hoax. The document, riddled with formatting errors and absent from SEC databases, was amplified by influencer @ThatMartiniGuy before retraction.

Binance CEO Changpeng Zhao swiftly intervened, stating: "Fake. Even big KOLs get fooled once in a while." CZ, who acquired 2.09 million ASTER tokens in November 2025, emphasized the project's organic growth potential without artificial hype.

The incident underscores crypto markets' vulnerability to misinformation, particularly around institutional adoption narratives. While Aster remains absent from major exchanges like Binance and Coinbase, such false claims risk eroding investor trust during critical regulatory phases for crypto ETFs.

Circle Secures Full Regulatory License in Abu Dhabi, Expands UAE Presence

Circle has achieved a significant milestone in the UAE, obtaining a full Financial Services Permission (FSP) license from the Abu Dhabi Global Market's Financial Services Regulatory Authority (FSRA). This license authorizes Circle to operate as a regulated money services provider within ADGM, reinforcing its position in one of the world's most dynamic hubs for compliant digital assets.

The approval enables Circle to deliver regulated payments and settlement services across the UAE, aligning with the region's aggressive expansion of digital finance infrastructure. Announced during Abu Dhabi Finance Week, the license underscores ADGM's commitment to fostering a transparent and secure financial ecosystem.

Circle CEO Jeremy Allaire praised the regulatory framework, emphasizing its alignment with the company's vision to establish USDC as a trusted medium for global transactions. ADGM officials highlighted Circle's entry as a strategic step toward building an institutional-grade digital asset ecosystem in the UAE.

Altcoin Season Signal Flashes as ETH/BTC Mirror 2017 Bull Run

A rare technical signal on the ETH/BTC chart—the SMA100 crossing below the EMA100—has historically marked the start of major altcoin rallies. This pattern, last seen during the 2020-2021 boom, just reappeared. Analysts interpret it as early confirmation of capital rotation from Bitcoin into altcoins.

Institutional activity supports the thesis. Amber Group and Metalpha withdrew 9,000 ETH ($28M) from Binance in a single move, part of a broader five-month accumulation trend. The ETH/BTC pair has already broken a 3.5-month downtrend, a bullish divergence that typically precedes altcoin outperformance.