Following an announcement by Binance, the largest cryptocurrency exchange in the world by volume, that it would enable a burn mechanism for the network, Terra Classic (LUNC), the original cryptocurrency token of the Terra-LUNA blockchain that crashed back in May, increased by over 50% on Tuesday. Although, according to Santiment, Terra Classic (LUNC) will have extremely high volatility for an entire week.
The implementation of a burn mechanism on LUNC spot and margin trading fees was previously disclosed by Binance. In an effort to lower the token’s circulating quantity, the largest exchange in the world by 24-hour trading volume will transfer all spot and margin trading fees for LUNC to the official LUNC burn address .
License.
