LUNC Spikes 36% Following Binance’s Burning Announcement
The collapse of Terra ecosystem’s two tokens propelled a great deal of turmoil for the crypto market, the effects of which have continued to haunt the space. The unexpected retreat of the bulls follows a leading crypto exchange’s announcement of implementing the LUNC burn mechanism on trading fees. After scrapping the initial ideas to initiate a burn-in subscription, Binance revealed plans to implement a mechanism to burn all trading fees on LUNC spot and margin trading pairs by sending them to the LUNC burn address. As per Binance CEO, CZ, the mechanism of a full burn-in tax, once a certain number of subscribers is reached, will be “fair” to all users. In theory, restricting the circulating supply of their tokens would aid the price growth as demand increases.
Source
https://t.me/Terra_Luna_Tron
