amberrrr789
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Stay Tuned with MEXC Global
In the Terra community, there has recently been a #burnalot tax burn movement. Sending $10 worth of Terra Luna Classic to the burn wallet will take it out of circulation. To spread the word, the campaign was launched on Discord and is currently trending on Twitter. To be more specific, it is similar to giving money to entice everyone close who is carrying LUNC to participate in the burning process. How does that work exactly? Imagine that tax burn will cause a decrease in supply if demand stays the same, increasing the price of Luna Classic.
On October 3, Binance posts an update revealing that Terra Classic, which was worth about $1.8 million, had been torched. It helps Terra Classic reduce 5.5 million LUNC. They just finished their first tax burn in response to the suggestion made by the Terra community in September. According to StakeBin, the global supply of LUNC fell by 6 billion on Monday, or 1600.51% more than the previous day.
As of the time this article was written, LUNC's price had climbed by 0.36%, which is scarcely a significant shift from the previous day. For the Terra community, this is fantastic news as more social media campaigns, like #burnalot, support the burn mechanism In a weak market, would the price of Luna Classic rise once again? MEXC Global is eager to find out what is in next.
In the Terra community, there has recently been a #burnalot tax burn movement. Sending $10 worth of Terra Luna Classic to the burn wallet will take it out of circulation. To spread the word, the campaign was launched on Discord and is currently trending on Twitter. To be more specific, it is similar to giving money to entice everyone close who is carrying LUNC to participate in the burning process. How does that work exactly? Imagine that tax burn will cause a decrease in supply if demand stays the same, increasing the price of Luna Classic.
Total LUNC Supply (Day) from StakeBin
On October 3, Binance posts an update revealing that Terra Classic, which was worth about $1.8 million, had been torched. It helps Terra Classic reduce 5.5 million LUNC. They just finished their first tax burn in response to the suggestion made by the Terra community in September. According to StakeBin, the global supply of LUNC fell by 6 billion on Monday, or 1600.51% more than the previous day.
As of the time this article was written, LUNC's price had climbed by 0.36%, which is scarcely a significant shift from the previous day. For the Terra community, this is fantastic news as more social media campaigns, like #burnalot, support the burn mechanism In a weak market, would the price of Luna Classic rise once again? MEXC Global is eager to find out what is in next.
