Terra Classic (LUNC) Burning Crypto Tax Is Close

Luna Classic (LUNC) quema burn

✍️ 7 September, 2022 - 15:02 👤 Editor: Jakub Motyka

When talking about cryptocurrency news in recent days, it is impossible to ignore the return of Luna Classic (LUNC). The crypto of the failed Luna project is back, being one of the main drivers of the crypto market during this last week.

The community of the new crypto of Luna has approved to introduce a new burn tax of 1.2% for all transactions carried out in its network.

The Luna's new crypto is experiencing a hectic week. After skyrocketing in price from $0.00007154 to $0.0001636, which Terra Classic (LUNC) has reached as a maximum in the last month, it is expected that the next On September 12 the Luna Classic 1.2 update will be deployed, which among other novelties will bring with it this new token burning tax.

Starting From September, The 1.2% Burn Tax Will Arrive To The Luna Classic (LUNC) Crypto

Terra Classic 1.2 should start to be available from next September 12. If everything goes according to plan, one of the novelties of this update will be the LUNC 1.2% burn tax, a token burning tax that will be applied to any transaction carried out on this network.

Terra Classic (LUNC) has seen its transaction volume rise by 211% in the last 24 hours, with a rise in price of the token of more than 13%, currently trading at $0.000154. Now that the validators have already approved this new tax, it remains to be seen if, after the introduction of the update, the market demand for Luna Classic (LUNC) will maintain the trail of growth that it has been showing for several days for respond to the new tax token burn.

3 Trillion LUNC Tokens Burned So Far

Just a few days ago it was known that until To date, more than 3 trillion LUNC tokens have been burned. This was reported by the Twitter account LUNC Burn, which is in charge of monitoring all token shipments made to Terra's crypto-hell wallet, terra1sk06e3dyexuq4shw77y3dsv480xv42mq73anxu.

Clearly the 1.2% burn tax will help boost this figure: if in the last 24 hours alone there has been a Terra Classic (LUNC) volume of 430 million dollars, this means that they would have had to burn more than 5 million dollars in the crypto Moon.

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Juan Pais

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