Breaking news! Stunning Terra Classic (LUNC) Announcement from Binance: Accepted!

Terra Classic (LUNC) challenges the cryptocurrency market through burning, staking, new projects and social media activities.

Binance Approves Burn Offer!

The Terra Classic community plans to pass the 1.2% tax/burnout proposal that will be voted on September 10. If accepted, the 1.2% tax burn offer will be implemented on September 20. Currently, exchanges such as MEXC Global, KuCoin, Gate.io, and CoinInn have agreed to support the offer. It would be great news for the community that Binance announced its support for the burning offer. Cryptocurrency exchange Binance announced today that it will finally support the Terra Classic 1.2% tax burn proposal. According to the statement, 1.2% LUNC burn will be applied to LUNC deposits and withdrawals. However, the burn will not be applied for spot and margin trading.

According to the Terra community's proposal, 1.2% tax/burnout will be applied on all LUNC transactions, both buying and selling. In all transactions, 1.2% of the respective tokens will be burned. According to analysts, the burning process may cause LUNC tokens to decrease in the market and therefore increase in price. A decrease in supply means an increase in demand. Historical data indicates that in such a situation, token prices gain momentum. However, this burning mechanism will be terminated when the total LUNC token supply reaches 10 billion LUNC . After that, supply is expected to remain stable. While the cryptocurrency market stagnates, the popular altcoin continues to challenge the market, especially thanks to its community support.

LUNC Made it to the Top 30!

In the last 24 hours, LUNC price is up over 55% with strong trading volume exceeding $2.75 billion. The 24-hour low was $0.003406 and the high was $0.0005386. Its market value reached approximately $3.5 billion. LUNC has surpassed Monero, Stellar and Bitcoin Cash. The community set a short-term target of $0.01 earlier this week. This target can be achieved if Terra Classic continues to record over $2 billion in daily trading volume.

The community has burned over 3.5 billion tokens and staked over 528.8 billion LUNCs so far. In fact, over $1 billion in trading volume came from Binance alone, with LUNC tokens running out on cryptocurrency exchange KuCoin. Recently, Terra's prices have risen significantly due to factors such as management offers, updates, burns and staking. Terra has launched a new Governance Alert Bot that provides the community with information on all governance activities. The highly anticipated 1.2% burn tax proposal will increase LUNC's burn rate. Therefore, experts emphasize to Terra Classic that the rally will continue.

Source: coin-turk.com