The post Terra Classic (LUNC) Price Spike 40% As Binance Decides To Burn All Trading Fees Of LUNC appeared first on Coinpedia Fintech News

Recently, Binance, one of the largest cryptocurrency exchanges, had agreed to support a 1.2% tax burn for Terra Classic (LUNC) and TerraClassicUSTC (USTC) on all-chain activities. This is live since September 21 2022.

Now, with the latest update, Binance has come forward to implement burning of all trading fees on LUNC spot and margin trading against BUSD and USDT by transferring them to LUNC burn address.

Initially, the exchange had planned to come up with a burn-in subscription while introducing a full burn-in tax, but Binance rejected the plan. As per Binance CEO Changpeng Zhao the introduction of the subscription plan would be a technical hindrance and even the community had a negative approach towards the plan.