EDUSELL
Financial Market Examiner
Midas Crypto Vault
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
Financial Market Examiner
No Result
View All Result
Home Crypto News

Terra Classic [LUNC] Increases as Binance Decides To Burn Trading Fees

Admin by Admin
September 27, 2022
in Crypto News
0
Binance and Terra Classic
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter
MMC MMC

Binance has decided to burn all fees on LUNC spot and margin trading pairs. This has in turn led to a price increase in the LUNC token.

Binance announced this via a blog post on its official website. According to Binance, it would update the amount of LUNC to be burned, its USDT equivalent, and on-chain transaction ID weekly. In addition, the blog announcement outlined rules that would guide the burn mechanism.

Related- Ethereum’S Goerli Testnet Merge Successful, Price Increases

Binance would calculate the total trading fees on LUNC spot and margin trading pairs to be burned from the previous week every Monday at 00:00:00 UTC. Successive on-chain burn transactions and reports would get updated on Tuesdays at 00:00:00 UTC.

The first batch of burning trading fees would be calculated from September 21 at 00:00:00 UTC to October 1 at 23:59:59 UTC. This would exclude rebates on LUNC spot and margin trading pairs for Binance Spot Liquidity Provider Program from September 21 to 27, 2021.

Additionally, Binance would convert other tokens’ trading fees to LUNC on Mondays. The CEO of Binance, Changpeng Zhao, stated that Binance would not push burn costs on users. The Terra Classic burn would not affect BNB fee discounts, rebates, or other accruing fee adjustments.

The CZ further explained they intend to maintain the same trading experience and liquidity while ensuring the supply decrease of LUNC.

The tremendous support of Binance to the Terra community produced a positive result in LUNC price. After the announcement, LUNC’s price increased by more than 70%. As of this writing, the price of LUNC is $0.000276 with a 24-hour trading volume of $1,284,298,812. It is ranked 35th among thousands of cryptocurrencies by CoinMarketCap.

Share on TwitterTweet
Share on Pinterest Share
Share on LinkedIn Share
Share on Digg Share
Tags: BinanceLUNCTerra Classic
Institutional Trading Concept Institutional Trading Concept Institutional Trading Concept
ADVERTISEMENT
Previous Post

Forex Trading- How to Know You are Ready to Move From Demo Account to Live Trading

Next Post

CELSIUS CEO ALEX MASHINSKY RESIGNS

Admin

Admin

Next Post
Celsius Alex Mashinsky resigns

CELSIUS CEO ALEX MASHINSKY RESIGNS

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

  • 99 Subscribers
  • Trending
  • Comments
  • Latest
AUD USD pair

Forex: AUD/USD Point To More Downside For The Aussie

October 20, 2022
yen and dollar

FOREX-Yen Flirts With Intervention Level As Dollar See Gains

October 11, 2022
Virtual stadium in the metaverse

Why Virtual Stadium Can Be the Next Big Thing in the Metaverse

January 26, 2023
USDD Depegs

USDD Stablecoin Depegs To $0.96, Tron (TRX) Dumped

December 12, 2022
What is Initial Coin Offering?

Initial Coin Offering (ICO)

0
What is staking?

Staking

0
What is Defi?

Defi (Decentralized Finance)

0
Differences between Axie Infinity and Decentraland

Axie Infinity and Decentraland: Features and Differences

0
AUD USD pair

AUD/USD falls from 7-month highs

February 2, 2023
What is Wiki Cat

What is Wiki Cat (WKC)?

February 1, 2023
FTX Group Interim Financial Update Contradicts Court Filing, Shows Exchange Had $1.43B In Cash

FTX Group Interim Financial Update Contradicts Court Filing, Shows Exchange Had $1.43B In Cash

February 1, 2023
Tesla Lost Millions In Crypto

Tesla Lost Millions In Crypto

February 1, 2023

Recent News

AUD USD pair

AUD/USD falls from 7-month highs

February 2, 2023
What is Wiki Cat

What is Wiki Cat (WKC)?

February 1, 2023
FTX Group Interim Financial Update Contradicts Court Filing, Shows Exchange Had $1.43B In Cash

FTX Group Interim Financial Update Contradicts Court Filing, Shows Exchange Had $1.43B In Cash

February 1, 2023
Tesla Lost Millions In Crypto

Tesla Lost Millions In Crypto

February 1, 2023
Financial Market Examiner

Get all the latest Financial Market (Crypto & Forex) news, updates and other relevant resources here.

Follow Us

Browse by Category

  • Crypto News
  • Education
  • Forex News
  • Gaming
  • Reviews
  • Stocks

Recent News

AUD USD pair

AUD/USD falls from 7-month highs

February 2, 2023
What is Wiki Cat

What is Wiki Cat (WKC)?

February 1, 2023

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

?>