Crypto Exchange Joins Binance to Burn terra luna Classic (LUNC) Trading Fees
The Terra Luna Classic community’s token burn campaign to reduce the circulating supply of LUNC has found support from another crypto exchange. Singapore-based crypto futures platform WEEX announced its commitment to burn 30% of LUNC trading fees, similar to binance burning 50% of trading fees for its LUNC burning mechanism.
WEEX and Binance Will Contribute to LUNC Burn
In a post on platform X, crypto exchange WEEX laid out its reason for remaining firmly committed to the Terra Luna Classic community and LUNC’s revival efforts.
WEEX plans to allocate 15% of trading fees from Futures Pro and Spot platforms to contribute to the LUNC burning campaign. “This results in a significant contribution of 30% of our trading fees from all matching,” the exchange said. LUNC burn support continues as part of the incentive ambassador program while reducing the overall supply of Terra Luna Classic.
LuncLive validator owner Mr. Diamondhandz, a popular member of the Terra Luna Classic community, and other LUNC owners have announced their membership in the WEEX ambassador program. WEEX is a non-KYC exchange that charges no Maker fees and has US and Canadian MSB licenses.
Binance burned 53 billion Terra Luna Classic (LUNC) tokens so far, there are 2.21 billion LUNC tokens in the 19th batch of the LUNC burning mechanism.
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LUNC and USTC Will Meet
LUNC price is down 2% in the last 24 hours and Terra Luna Classic price is trading at $0.000179 at the time of writing. The 24-hour low and high are $0.000179 and $0.000185 respectively. Trading volume has fallen by another 25% in the last 24 hours, indicating waning interest among traders.
USTC price has also fallen by 1% in the last 24 hours. The price is currently trading at $0.0345; The 24-hour low and high are $0.0340 and $0.0354 respectively. Additionally, transaction volume has decreased by 40% in the last 24 hours.
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Varinder has 10 years of experience in the Fintech industry and has been dedicated to blockchain, crypto and Web3 development for over 5 years. A tech enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in more than 5,000 news stories, articles, and articles. Varinder believes in the great potential of future innovative technologies with parofix Media. He currently covers the latest updates and developments in the crypto industry.
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