$LUNC up 25% in minutes as Binance provides major update on burning mechanism lunccommunity terraclassic lunc terra luncburn
, one of the world's leading crypto exchanges and holder of possibly the largest LUNC liquidity, has decided to burn all trading commissions collected by the exchange on LUNC spot and margin pairs against BUSD and USDT.
The unexpected decision followed the abandonment of the exchange's initial plans to introduce a burn-in subscription and the implementation of a full burn-in tax when a certain number of subscribers are reached.
Fees will be converted to LUNC then sent to the burn address. The burn is paid at our expense, not the users’.On the announcement of this news, LUNC quotations immediately soared. Within five minutes, the cryptocurrency price was up more than 25% on the spot.
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