Tuesday, February 7

Tag: Binance

Terra Classic (LUNC) Becomes The Winner Of Binance Community Showdown Contest With 36k Mentions, Bypassing Bitcoin
Cryptocurrency

Terra Classic (LUNC) Becomes The Winner Of Binance Community Showdown Contest With 36k Mentions, Bypassing Bitcoin

The effort of the Terra Classic community has been so much remarkable as they throw a persistent weight behind the token, Binance recently announced the LUNC as the winner of its Community Showdown contest.  It is noteworthy that Binance, the world's largest crypto exchange launched the Showdown contest to determine the cryptocurrency project with the most support on Twitter. The leading cryptocurrency exchange urged various cryptocurrency communities to participate in the contest by posting, commenting or retweeting the Binance hashtag alongside their favourite crypto ticker. Read Also: Raoul Pal, A Former Goldman Sachs Executive, Is Bullish On XRP, Saying It Will Experiences A Massive Bull Run After The Lawsuit The contest was allowed to run for a few weeks after Binance rel...
Binance Adds Support For The COTI, The Official Issuer Of Cardano Stablecoin, Djed, To Enable Borderless Crypto Payment
Cardano

Binance Adds Support For The COTI, The Official Issuer Of Cardano Stablecoin, Djed, To Enable Borderless Crypto Payment

In a recent COTI announcement, it was made known that Binance, the world's largest cryptocurrency exchange had added support for the COTI, a DAG-based Layer 1 platform. It is worth noting that support will allow users of Binance Pay can now send, receive, and make payments using the popular cryptocurrency. Binance Partners With COTI The new development was made known also on the COTI official Twitter handle saying; “We are happy to announce that Binance Pay now supports COTI to enable borderless crypto payments! This will allow millions of Binance users to send, receive and make payments in COTI,” Read Also: Following The Arrival Of New Validators, Over 111 Billion LUNC Are Staked In One Day https://twitter.com/COTInetwork/status/1585637254428401665 However, the announ...
LUNC Volume On-chain Increases Following The Reduction Of The Tax Burn Parameter: Detail
Cryptocurrency

LUNC Volume On-chain Increases Following The Reduction Of The Tax Burn Parameter: Detail

It seems the reduction of the tax burn parameter is working as expected as the LUNC trading volume spike as noted in a recent tweet shared by Classy crypto. Recall that the reason for the reduction of the tax burn parameter from 1.2% to 0.2% was that the former resulted in a decline in the trading volume. Read Also: Ripple Says SEC Has No Legal Proof To Qualify XRP As A Security LUNC Trading Volume Spikes By 2X https://twitter.com/ClassyCrypto_/status/1583168137209712640 Per Duncan Day, the author of the proposal; “Gentle reminder that we need to measure this 7-days post-tax to give a reasonable assumption that it has increased volume on-chain,” Day wrote. “Given that I found 7-days enough to determine burn tax efficacy, it is only fair to give the same objective viewpoin...
Binance Implements Proposal 5234 As It Reduces 1.2% Parameter To 0.2%.
Cryptocurrency

Binance Implements Proposal 5234 As It Reduces 1.2% Parameter To 0.2%.

Following the recent announcement of Proposal 5234 passed by the Terra classic community which states that the LUNC 1.2% tax burn should be reduced to 0.2%, the largest crypto exchange, Binance, has been fostered by it as it implements the changes for LUNC and USTC on-chain transactions. Binance Implements Tax Burn Proposal 5234 The new proposal came as a result of the drastic decline in the USTC and LUNC volume gotten since the inception of the LUNC 1.2% tax burn. Read Also: CertiK Once Again Rates Shiba Inu As The Second Most Secured Crypto Project https://twitter.com/binance/status/1582625797231497217? Furthermore, it is believed by the Terra classic community that the implementation of the LUNC 1.2% tax burn has driven a lot of investors and trading platforms away. ...
Binance Exchange Remains Committed To Its Promise To LUNC Network As It Burns Over 2.5 Billion LUNC Tokens
Crypto Exchanges, Cryptocurrency

Binance Exchange Remains Committed To Its Promise To LUNC Network As It Burns Over 2.5 Billion LUNC Tokens

As Binance is known for its strong supporting act, it has shown it again as it burns a whopping 2.5B Terra Classic (LUNC) tokens ($659K+) in its third batch of weekly off-chain burns. The low trading volume has not made the largest crypto exchange grow wearied as it has vouched to fulfilled its word towards the LUNC burn. Read Also: LUNC Community Waxes Stronger In Its Support For LUNC Project As An Anonymous User Support Terra Rebel With Over $19,000 Binance Third Weekly Burns Per the LunaBurnTracker, “Burn alert! 2,500,382,131 LUNC ($659,051) burned to Luna Burn Wallet,” the handle noted in a tweet Monday, as a link to the burn transaction was shared. https://twitter.com/LunaBurnTracker/status/1581994343229005826 The transaction record shows that the recent...
Binance Adds Terra UST Classic (USTC) In The List Of Borrowable Assets On Binance Crypto Loan
Cryptocurrency

Binance Adds Terra UST Classic (USTC) In The List Of Borrowable Assets On Binance Crypto Loan

Binance moves beyond burning the LUNC, it expands its support more by adding Terra UST Classic (USTC) as a borrowable asset on Binance Crypto Loans.  The new development was shared on Binance’s official website earlier today saying USTC would be included in the list of cryptocurrencies its users can borrow to engage in spot and margin trading.  Per Binance’s announcement; “Binance has added USTC as a new borrowable asset on the Binance Loans platform,”  Read Also: Elon Musk's Boring Company Now Accepts Dogecoin For The Payment Of Its Perfum Terra Classic UST (USTC) Joins The List Of Borrowable Asset On Binance It is worth noting that Binance is currently supporting a very wide of cryptocurrencies across the globe, adding them to its borrowable asset on the platform. So...
Binance Initiates Second Round Of LUNC Trading Fee Burns With 3 Billion LUNC
Cryptocurrency

Binance Initiates Second Round Of LUNC Trading Fee Burns With 3 Billion LUNC

In a recent tweet by LUNC DAO, it was revealed that Binance, the leading cryptocurrency exchange, has initiated a second round of LUNC trading fee burns which claimed a total of almost three billion LUNC worth about $1 million to the Terra burn wallet as part of its burn initiative to support the network. https://twitter.com/LUNCDAO/status/1579445012865388544 Second Round Of LUNC Trading Fee Burns Of Binance Although the update on the burn was once tracked by the LunaBurnTracker, which revealed it on its official Twitter handle. However, Binance hasn’t updated this transaction on its blog post but hopes to do so on or before 00:00 UTC on Tuesday. https://twitter.com/LunaBurnTracker/status/1579412329082634240 Recall that the largest crypto exchange added its support for...
The Long-Awaited Binance’s LUNC Burn Surfaced As Promised, As It Burns Over 5 Billion LUNC Tokens
Crypto Exchanges, Cryptocurrency

The Long-Awaited Binance’s LUNC Burn Surfaced As Promised, As It Burns Over 5 Billion LUNC Tokens

The most-anticipated Binance's LUNC burn has just landed after some days’ waiting. The largest crypto exchange fulfilled its promise with the burning of over 5 billion instantly. Recall that the previously stated that it will be implementing the LUNC tax burn on the LUNC spot and margin trades. Per LunaBurn Tracker; “Burn alert! 5,595,907,838 LUNC ($1,899,923) burned to Luna Burn Wallet,” Read Also: The Ripple's Usual Monthly Unlock Of 1 Billion XRP Tokens Did Not Happen In October, Could It Be That The Total 55 Billion XRP Locked Has Been Unlocked? https://twitter.com/LunaBurnTracker/status/1576928465898688512 Although the identity of the entity behind the burn was not explicitly noted, the consensus is that Binance initiated it due to the pattern of the initiation. Furt...
Binance And KuCoin Exchanges Make The Total LUNC Burn To Hit Over 70 Million Point
Cryptocurrency

Binance And KuCoin Exchanges Make The Total LUNC Burn To Hit Over 70 Million Point

There has been a lot of burning following the launching live of the LUNC 1.2% tax burn. For instance, the exchanges like Binance and KuCoin have greatly spiked the total LUNC burn after its live launch to over 70 million points. Although the Binance exchange only implement the proposal on deposit and withdraw only and surprisingly, the most burn came from the KuCoin as the Binance recently implemented the change. The figure above compares to just 18 million tokens burnt in the 13 hours before. Read Also: Dogechain Launches Dogegress, The Dedicated Decentralized Governance Platform For Dogechain Projects Binance To Bring Another Surge In The LUNC Burn As stated by WhaleClubs, a LUNC influencer account, displayed a screenshot that suggests possible congestion on the exchange as ...
Binance, The Largest Crypto Exchange Adds Support To The LUNC’s 1.2% Tax Burn Proposal, But Only Applicable To Deposit And Withdrawal
Cryptocurrency

Binance, The Largest Crypto Exchange Adds Support To The LUNC’s 1.2% Tax Burn Proposal, But Only Applicable To Deposit And Withdrawal

The rate the platform raise support for the LUNC this time is a clear indication that the coin has revived and watching the reaction of the LUNC in the market is another indication of the total restoration of the coin. The recent announcement by Binance said it supports the 1,2% tax burn proposal and it focused on the minimum withdrawal amount, maximum amount, and withdrawal fees for LUNC and USTC via the Terra Classic network once the Tax burn goes live on Sep 20th. Read Also: LUNC Bypass Some Coins Like Bitcoin Cash, Monero, And Few Others To Occupy 26th Position https://twitter.com/binance/status/1567861201677295618 According to the largest crypto exchange;“Deposits: Transactions will be taxed by the Terra Classic network before it reaches Binance. The balance will be cre...