Binance introduced the trading fee burn after Terra Classic implemented a 1.2% burn tax on all on-chain transactions.
Binance to Burn LUNC Trading Fees
Months after crashing to almost zero, Luna Classic is soaring.
According to CoinGecko data, Terra Classic’s native token is up 35% today trading at roughly $0.0003, propelled by an announcement from Binance detailing a plan to start burning LUNA Classic trading fees. In a Monday blog post, the world’s top cryptocurrency exchange revealed that it would burn trading fees on the coin’s spot and margin trading pairs. Though the announcement didn’t confirm the amount it would burn, it said the blog post would be updated weekly with on-chain data showing the burned tokens.
Binance and other crypto exchanges have faced calls from the Terra Classic community’s so-called “Lunatics” to start burning LUNC tokens after the blockchain introduced a major change to its tokenomics last week. On September 20, Terra Classic implemented a 1.2% “burn...
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