The post Terra Classic (LUNC) Price On A Bull Run, But These Factors Might Pull Down The Price appeared first on Coinpedia Fintech News

Terra network is surviving its stance with Terra Classic (LUNC) after the devastating collapse of Terra’s original chain LUNA in May 2022. The crypto market started its bearish journey after this collapse and has continued till today.

However, the Terra Classic did have a bullish trend in September as the very first day LUNC gained 70% and again nearly 250% on September 8. The reason for this was due to the proposal of 1.2% tax. This policy claimed to charge a 1.2% fee for all the LUNC transactions made on different wallets. Also this fee would then be used to burn LUNC token by sending it to a dead address.

Then Binance, one of the largest crypto exchanges, agreed to burn all trading fees on LUNC spot and margin trading against BUSD and USDT by transferring them to the LUNC burn address.

The LUNC community confirmed the same via Twitter which said Binance will have a 1.2% consolidation fee for all the deposits received.