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Terra Classic (LUNC) Price Spike 40% As Binance Burns Terra Classic’s All Trading Fees

26 Sep, 20221 min readOther
Terra Classic (LUNC) Price Spike 40% As Binance Burns Terra Classic’s All Trading Fees

Recently, Binance, one of the largest cryptocurrency exchanges, had agreed to support a 1.2% tax burn for Terra Classic (LUNC) and TerraClassicUSTC (USTC) on all-chain activities. This is live since September 21 2022. Now, with the latest update, Binance has come forward to implement burning of all trading fees on LUNC spot and margin trading against BUSD and USDT by transferring them to LUNC burn address. Initially, the exchange had planned to come up with a burn-in subscription while introducing a full burn-in tax, but Binance rejected the plan.

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