Home / News / Altcoin News / Crypto Exchange Joins Binance to Burn Terra Luna Classic (LUNC) Trading Fees
Crypto exchange WEEX to burn Terra Luna Classic (LUNC) tokens like Binance to help the community in Terra Luna Classic revival.
Story Highlights
- Crypto exchange WEEX to support Terra Luna Classic community in its LUNC revival efforts.
- The exchange to contribute trading fees for LUNC burn
- LUNC and USTC prices continue to decline as traders goes short on both crypto
The Terra Luna Classic community’s token burn campaign to reduce the LUNC circulating supply finds support of another crypto exchange. Singapore-based crypto futures trading platform WEEX announced commitment to burn 30% of LUNC trading fees, similar to Binance burning 50% of trading fees for LUNC burn mechanism.
WEEX and Binance to Contribute to LUNC Burn
Crypto exchange WEEX in a post on the X platform revealed its motive to stand firmly with the Terra Luna Classic community and the LUNC revival efforts.
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WEEX plans to allocate 15% of trading fees from its Futures Pro and Spot platforms to contribute to the LUNC burn campaign. “This results in a significant contribution of 30% of our trading fees from all pairings” the exchange said. The LUNC burn support follows as part of the ambassador program to promote while reducing the overall supply of Terra Luna Classic.
LuncLive validator owner Mr. Diamondhandz, one of the popular members of the Terra Luna Classic community, and other LUNC holders revealed membership in the WEEX ambassador program. WEEX is a non-KYC exchange charging no maker fees and has US and Canada MSB licenses.
Binance has burned over 53 billion Terra Luna Classic (LUNC) tokens until now, with 2.21 billion LUNC tokens in the 19th batch of the LUNC burn mechanism.
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LUNC and USTC to Rally
LUNC price fell 2% in the past 24 hours, with the Terra Luna Classic price trading at $0.000179 at the time of writing. The 24-hour low and high are $0.000179 and $0.000185, respectively. The trading volume has dropped further by 25% in the past 24 hours, indicating a decline in interest among traders.
USTC price also dropped 1% in the last 24 hours. The price currently trades at $0.0345, with a 24-hour low and high of $0.0340 and $0.0354, respectively. Furthermore, trading volume has decreased by 40% in the past 24 hours.
Also Read: Why AI Coins May Skyrocket In March?
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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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