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Block data showed that the Terra network was reactivated on Friday, after being paused twice in 12 hours.
The reactivation comes nearly 12 hours after the network was suspended by its developers, who said they planned to “reconstitute” the blockchain.
The move came as a surge in withdrawals congested the blockchain, bringing transaction speeds to a crawl. This caused several major exchanges, including BINANCE and OKX, to delist most LUNA and UST pairs.
World No. 2 COINBASE also recently joined its peers in limiting trading in the tokens, and will suspend their trade on May 27.
UST’s crash in particular has been catastrophic for Terra, given that a bulk of DeFi value on the platform was built around the token. UST is now trading below $0.2.
