LUNC Price Skyrockets 25% in 5 Minutes as Binance Announces Major Update on Burning

AnalysisLUNC Price Skyrockets 25% in 5 Minutes as Binance...



Gamza Khanzadaev

Major crypto exchange provides incredible update on burning mechanism of LUNC

As we have just learned, Binance, 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. As Binance CEO Changpeng Zhao explains the rejection, introducing a subscription would have been a technically difficult solution and was also met negatively by the LUNC community.

On the announcement of this news, LUNC quotations immediately soared. Within five minutes, the cryptocurrency price was up more than 25% on the spot. In doing so, the announcement of the new solution had such a strong impact on quotations that it even outweighed the news this morning about Terra’s co-founder, LUNC issuer Do Kwon.

Do Kwon receives red card

Despite Do Kwon’s scathing comments and taunts about his potential capture, it was revealed today that Interpol has issued a red notice for him. This means that police from all over the world will be joining the search for him, and the process will become much more active.



Learn more

Latest news

Brad Garlinghouse Congratulates Ripple Team for Reaching Current Point When Verdict May Be on Horizon

Yuri Molchan Ripple CEO has posted a crucial tweet now that Ripple has filed its redacted reply to...

Week of Altcoin: DOGECOIN |Such Crypto! WOW | ft. Shilling

Finding DOGECOIN in the super-serious high-stress world of cryptocurrency feels a lot like finding jellybean in a...

Boeing Stock Takes Off On United Airlines Deal Buzz

Boeing (BA) took off on Friday after the Wall Street Journal reported the airplane producer is close to...

80 Million XRP Moved in 3 Suspicious Transactions, Here’s Why

Arman Shirinyan Large transactions occur on network as selling pressure ascends Millions of XRP are being moved on the market...

LUNC Price Suddenly Jumps 11% as Billions of Tokens Are Burned

Terra Classic (LUNC) suddenly jumped nearly 13% on Dec. 2 as the community received the results of Binance's...

Must read

Week of Altcoin: DOGECOIN |Such Crypto! WOW | ft. Shilling

Finding DOGECOIN in the super-serious high-stress world...

Boeing Stock Takes Off On United Airlines Deal Buzz

Boeing (BA) took off on Friday after the...

You might also likeRELATED
Recommended to you