Fri. Apr 12th, 2024

Binance Backs Down And Will Burn Terra Luna Classic (LUNC)

Luna LUNC burn tax

✍️ 27 December, 2023 – 16:06 👤 Editor: Jakub Motyka

If Binance had refused to do so a few hours ago, now the world’s largest cryptocurrency exchange has just approved the Terra Luna Classic (LUNC) burn tax. Binance will burn LUNC with every LUNC/USDT and LUNC/BUSD trade that occurs on its spot and margin trading.

This puts an end to the controversial chapter in which Binance was one of the big exchanges that had refused to apply the 1.2% tax for burning of Terra Luna Classic (LUNC) that had been previously approved by the Terra community.

Binance Kicks Off Terra Luna Classic (LUNC) Trading Tax Burn

As has disclosed CZ, the CEO of Binance, the exchange will begin burning all trading fees generated on LUNC/USDT and LUNC/BUSD trades. They will do so by sending the burning percentage to the LUNC destruction wallet, also bearing the expenses, without passing it on to user commissions.

CZ assures that the LUNC community had not reacted positively to his proposal to introduce a voluntary tax for the Terra Luna Classic burning and, furthermore, it was a complex development for the exchange.

For this reason, Binance has finally accepted the burning of Terra Luna Classic (LUNC). “In this way, Binance can contribute to the reduction of LUNC supply, which is what the community expects,” CZ commented in one of his messages.

Terra Luna Classic (LUNC) Price Explodes After The Latest News

What the news of the Interpol arrest warrant against Do Kwon had thrown down, the news that Binance will apply the LUNC burn on its spot and margin trading markets have managed to shoot up the price of the Terra Luna Classic crypto.

The price of LUNC is currently $0.000302, a rise of more than 30% in the last 24 hours.

More crypto news:

E-mail: juan@criptokio.com

ES: Por mi trabajo de redactor siempre he escrito para otros temas pero la verdad es que a día de hoy lo que más me apasiona es el tema de las criptos. Tengo conocimientos tanto en criptomonedas y wallets como de airdrops y exchanges.

Poseo wallet en Coinbase y Trust Wallet, y cuentas en una variada cantidad de exchanges como Satoshi Tango, Binance, Crypto, Ripio, entre otras.

EN: EN: Because of my work as an editor I have always written for other topics but the truth is that today what I am most passionate about is the topic of cryptos. I have knowledge in both cryptocurrencies and wallets as well as airdrops and exchanges.

I have a wallet in Coinbase and Trust Wallet, and accounts in a variety of exchanges such as Satoshi Tango, Binance, Crypto, Ripio, among others.
Juan Pais

🎁 Nuestro partner te regala 15€ por invertir en criptomonedas:

ℹ️ Descargo de responsabilidad: El contenido educativo de este sitio web se ofrece de buena fe y solo con fines de información general. Criptokio prioriza proporcionar información de alta calidad, tomándose el tiempo para investigar y crear contenido informativo para los lectores. Si bien los socios pueden recompensar a la empresa con comisiones por las ubicaciones en los artículos, estas comisiones no influyen en el proceso de creación de contenido imparcial, honesto y útil. Cualquier acción tomada por el lector en base a esta información es estrictamente bajo su propio riesgo.

Juan Pais, redactor en Criptokio.com

By Juan Pais

E-mail: juan@criptokio.com ES: Por mi trabajo de redactor siempre he escrito para otros temas pero la verdad es que a día de hoy lo que más me apasiona es el tema de las criptos. Tengo conocimientos tanto en criptomonedas y wallets como de airdrops y exchanges. Poseo wallet en Coinbase y Trust Wallet, y cuentas en una variada cantidad de exchanges como Satoshi Tango, Binance, Crypto, Ripio, entre otras. EN: EN: Because of my work as an editor I have always written for other topics but the truth is that today what I am most passionate about is the topic of cryptos. I have knowledge in both cryptocurrencies and wallets as well as airdrops and exchanges. I have a wallet in Coinbase and Trust Wallet, and accounts in a variety of exchanges such as Satoshi Tango, Binance, Crypto, Ripio, among others.

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