Terra Classic Price Prediction on New Binance LUNC Burn News
Join Our Telegram channel to stay up to date on breaking news coverage Following a piece of news from Binance, Luna Classic, which trades as LUNC, is up by more than 60% in under a day and has been holding a rank of #31 on coinmarketcap.com. This rise was followed by news from Binance after they made the announcement to cut the supply of the tokens by 1.2%. The token supply will be reduced under a burn mechanism, where “Binance will implement a burn mechanism to burn all trading fees on LUNC spot and margin trading pairs by sending them to the LUNC burn address,” In the process, a token is sent to a cryptocurrency address that isn’t operational by a user and, thus, helps reduce the circulating supply of the token, resulting in the bullish price action of the coin. While this rise has changed the sentiment around LUNC, it still is miles apart from its all-time high of over $100 earlier this year and is currently trading at $0.0003. Changpeng Zhao, CEO of Bin...