Tuesday, February 7

Tag: LUNc Burn

A Total Of 3.21 Billion LUNC Is Burned Over The Past Week, 0.2% Parameter Removes A Total Of 168 Million LUNC From Circulation
Cryptocurrency

A Total Of 3.21 Billion LUNC Is Burned Over The Past Week, 0.2% Parameter Removes A Total Of 168 Million LUNC From Circulation

In the past week, a total of 3.21 billion LUNC was removed from circulation as stated by LUNC burn data. The data revealed that on 17th October, total LUNC burns were 19.5B, more also, on Sunday, October, 23rd,  total burns reached 22.7B. So 3.2B LUNC were taken out of the circulating supply in the past week. Read Also: Custodial and non-custodial Wallets: Definition and Differences https://twitter.com/LunaBurn_13/status/1583977253318590464 3.21 Billion LUNC Is Removed In The Past Week Over 3 billion LUNC has been incinerated in the past week and the recent addition came from the 0.2% burn tax and the voluntary efforts made by exchanges to burn fees for Terra Classic spot and margin trading pairs. It is no doubt that Binance had done dramatically in the ongoing LUNC bu...
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...
Exchanges Like KuCoin, OKX And CrypoCom Follow Binance To Implement The Newly Passed LUNC Tax Burn Proposal
Crypto Exchanges

Exchanges Like KuCoin, OKX And CrypoCom Follow Binance To Implement The Newly Passed LUNC Tax Burn Proposal

Three cryptocurrency exchanges announced they would implement the New LUNC proposal to reduce the tax levied on LUNC and USTC on-chain transactions. Following Binance’s announcement of reducing the 1.2% parameter to 0.2%, exchanges have been showing support for the latest tax burn proposal of the LUNC token. Exchanges Support The Newly Passed LUNC Proposal Exchanges like the KuCoin, OKX, and Crypto.Com, followed the same path as Binance, the biggest cryptocurrency exchange. CryptoCom Agrees To Implement The Proposal 5234 In a newly shared tweet by crypto.com, it announces that it will reduce the tax burn parameter for Terra Classic token’s on-chain transactions, including deposits and withdrawals, from 1.2% to 0.2% while still maintaining the Tera classic token’s withdrawal...
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...
Allnodes Burns Over 56 Million LUNC Tokens And Plans To Initiate Weekly LUNC Burns Till The End Of 2022
Cryptocurrency

Allnodes Burns Over 56 Million LUNC Tokens And Plans To Initiate Weekly LUNC Burns Till The End Of 2022

Per a Twitter handle, Allnodes is urging the LUNC community to stake via the platform, it also said that it had sent over 56 million LUNC tokens to dead wallets as it burns from its 5%  commission. Allnodes Now Burns LUNC Allnodes noted in its tweet; “56,706,118 LUNC were burnt earlier today by Allnodes,” the validator tweeted. “Delegate to Allnodes and participate in our weekly ritual until the end of 2022!” Read Also: Terra Classic Becomes 60th Largest By Total value Locked (TVL) Having 12.36 Million Last Month https://twitter.com/Allnodes/status/1581915953620979713 The proof for the Allnodes’ transaction can be seen for confirmation on the LUNCPenguins official website designed by HappyCattyCrypto with the description Allnodes burn.  Allnodes Becomes The 9th La...
FatMan Comment On The LUNC Tax Burn Proposal Prompts Terra Rebel’s Responses
Cryptocurrency

FatMan Comment On The LUNC Tax Burn Proposal Prompts Terra Rebel’s Responses

While the whole community is happy with the idea of the LUNC proposal, the famous Terra whistleblower FatMan commented via a tweet saying that reducing the tax burn parameter to 0.2% and allocating 10% of the tax to the community pool for development is authoritarian. FatMan Comment On The Tax Burn Proposal FatMan tweeted; “Giving 10% of the tax to yourself is an even worse idea than the burning tax,” tweets FatMan. “Devs deserve to be paid – either through donations or via formal community pool spend proposals – but automatically redirecting 10% of every burn to “contributors” is authoritarian & wrong.” Read Also: Ripple Ads Appearing On The World Trade Prompts Digital Perspectives To Say Ripple Has No Lose In The Ongoing Lawsuit https://twitter.com/FatManTerra/status/15...
LUNC Burn Rate Hits 176,084% As Total LUNC Burn Hits Over 18 Billion.
Cryptocurrency

LUNC Burn Rate Hits 176,084% As Total LUNC Burn Hits Over 18 Billion.

In a recent tweet shared by the LUNC Burn, an official Twitter handle that monitors the ongoing burning of the LUNC tokens noted that a total of 18.12 billion and another tracker also noted that LUNC Burn Rate hits 176,084%. The Binance’s burn is in no doubt increasing the number of LUNC token that has been set on fire concerning the ongoing LUNC tax burn proposal. Read Also: SEC Has Two Days To Request For Reconsideration Over William Hinman's Document Says Ripple Enthusiast https://twitter.com/LunaBurn_13/status/1579636809575071744 LUNC Burn Rate Hits 176084% Point Following Binance’s second round of LUNC trading burns, LUNC burn Tracker noted that the burn increased by 176,084% from the previous day. https://twitter.com/LunaBurnTracker/status/1579639175980240899 ...
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...
LUNC DAO Introduces $1 LUNC Burn Campaign
Cryptocurrency

LUNC DAO Introduces $1 LUNC Burn Campaign

The LUNC community has been creative and strategic about reducing the total supply of LUNC tokens as LUNC DAO recent revealed in its tweet urging its followers on Twitter to destroy almost 333.7 million LUNC via a new campaign, $1 LUNC Burn. $1 LUNC Burn Campaign Begins: LUNC DAO LUNC DAO has big Twitter followers up to 95,342 followers called CEOs to incinerate at least $1 worth of LUNC to the burn wallet. Read Also: Ethereum Now Tops The List Of The Most Staked Crypto Assets At the time when the news was filed, 3,500 LUNC equivalent to $1 and by calculation, a total of 333.7 million LUNC will be burnt if all the followers yield to the call. LUNC DAO urged the community to join the campaign by sending at least 3,500 LUNC to the burn wallet using the memo “CEO Burn”.  ...
Over 200,000 LUNC Investors Tweets Calling On Coinbase To Support LUNC Trading Burn
Cryptocurrency

Over 200,000 LUNC Investors Tweets Calling On Coinbase To Support LUNC Trading Burn

In the quest to increase the Terra Luna Classic burns, over 200,000 tweets have been counted beckoning Coinbase to list the cryptocurrency, to contribute to the ongoing burns of the coin. Despite that a lot of trading platforms have added support to the ongoing LUNC burn proposal, the holders of the token are still working on new ways to intensify the burning of LUNC. Read Also: Michaël van de Poppe Shows Some Bullish Observation On LUNC It is worth noting that over time now, the LUNC community are still expecting some top exchanges to add their support for the proposal to increase the burn drive. For instance, Coinbase and Robinhood are yet to enable support on the LUNC trading burn probably because of the terrible past of the token and its blockchain. LUNC Investors Calls On...