Binance burns 2.2 billion Terra Luna Classic (LUNC) tokens

1 min read

Binance exchange has burned 2.21 billion Terra Luna Classic (LUNC) tokens in the 19th batch of the LUNC burn mechanism. This brings the total number of tokens burned by the Terra Luna Classic (LUNC) community to over 100 billion. Furthermore, the net burn by the crypto exchange is over 53 billion. What’s more, the Terra Luna Classic community celebrated the 100 billion LUNC milestone with increased optimism and confidence. Between

Investors pump $70 million into LUNC in a week as Terra Classic interest returns

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Despite its declining utility, investors in Terra Classic (LUNC), the original chain of the defunct Terra (LUNA) token, remain bullish on the digital asset. Despite the current bearish market conditions, the token appears to be on a bullish upward trend. According to CoinMarketCap data, LUNC currently has a market capitalization of $965.68 million, an increase of $73.49 million from $892.19 million on November 29. As a result, short-term buying pressure

Terra Classic developers reduce the ‘burn tax’ rate in an effort to boost on-chain activity

2 mins read

Contributors to the Terra Classic network have cut the so-called “burn tax” charged on all Terra Classic token (LUNC) transactions. The developers have reduced the tax rate from 1.2% to 0.2% since the earlier rate was thought to cause a decline in network activity. The new rates went into effect today at 8:50 a.m. ET, after the community’s approval of governance “Proposal 5234,” which reduced the number of tokens burned