Recommended
Terra Classic Burn: LUNC Burning Crypto Tax Is Getting Closer
2022/09/01By:
Abstract
- On September 12th, a new token burn tax of 1.2% will be imposed on Terra Classic (LUNC).
- The value of Luna‘s brand-new cryptocurrency has been on the rise in recent days.
The recent reemergence of Terra Classic as a cryptocurrency makes it impossible to ignore the current buzz in the industry (LUNC). One of the key forces propelling the cryptocurrency market this past week was the return of the cryptocurrency associated with the doomed Luna project. The Luna cryptocurrency community has adopted a new burn tax of 1.2% on all network transactions.
This week has been really busy for the Luna’s new cryptocurrency. Terra Classic (LUNC) has seen a massive price increase from its beginning value of $0.00007154 to its current price of $0.0001636. It is anticipated that the next month will see a similar increase. This new token burning tax, along with other features, will be introduced on September 12 with the rollout of the Terra Classic 1.2 update.
As of This Coming September, Terra Classic (LUNC) Will be Subject to a 1.2% “Burn Tax.”
We anticipate that Terra Classic 1.2 will become accessible on September 12 of next year. One of the new features of this upgrade, if all goes according to plan, is the introduction of a burn tax of 1.2% of the token value of each transaction made on the LUNC network.
There has been a 211% increase in the 24 hour volume of transactions for Terra Classic (LUNC), with the token’s price increasing by more than 13% to $0.000154 at present. Once the update is released, it will be interesting to watch if the demand for Terra Classic (LUNC) on the open market continues the upward trend it has shown over the past few days in response to the new tax token burn. The validators have already authorized this new tax.
Download App for Android | Download App for iOS |
So Far, 3 Billion LUNC Tokens Have Been Destroyed
Over three trillion LUNC tokens, as of a few days ago, have been destroyed. The Twitter account LUNC Burn, which is responsible for keeping tabs on all token deliveries to terra1sk06e3dyexuq4shw77y3dsv480xv42mq73anxu, Terra’s crypto-hell wallet, made the announcement.
If in the past 24 hours there has been a Terra Classic (LUNC) volume of $430 million, then they would have had to burn more than $5 million on the crypto Moon, therefore the 1.2% burn tax would undoubtedly help increase this number.
Why trade crypto futures on BTCC?
- Largest variety of futures: Daily, weekly, quarterly&perpetual
- Flexible leverage from 10x to 150x
- Lowest trading fees 0.03%
- Industry-leadingmarket liquidity
- Plenty of campaigns to win exciting rewards
Register now to begin your crypto journey
Download the BTCC app via App Store or Google Play
Follow us
Scan to download
- Terms & Agreement
Quick Links
Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.
The world’s longest-running cryptocurrency exchange since 2011 © 2011-2024 BTCC.com. All rights reserved
Comments
Leave a comment
Your email address will not be published. Required fields are marked with an asterisk (*).
Comment*
Name*
Email address*