2024-09-26 14:07:25

Terra Classic Price Predictions: Where Will Binance Burn Mechanism Take the LUNC Crypto?

InvestorPlace

By William White

Source: saran insawat / Shutterstock.com

Terra Classic (LUNC-USD) price predictions are a hot topic on Monday as traders discuss an update from crypto exchange Binance.

The big news affecting LUNC today is the introduction of a burn mechanism on Binance. This will “burn all trading fees on LUNC spot and margin trading pairs by sending them to the LUNC burn address.”

Binance notes that it’s adopted this burn mechanism following a proposal from the Terra Classic community. The goal is to maintain a good trading experience for users while burning trading fees.

Binance points out that the specific amount burned will be its equivalent value in Tether (USDT-USD). The exchange also mentions that the amount burned and the on-chain transaction ID will be updated every week.

#forecast #security #opinion #pricepredictions #equivalentvalue

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