Terra Classic (LUNC) Binance Burn To Mark Big Week Ahead?

Terra Classic LUNC Binance News: Following the passing of proposals on Binance burn, the Terra Classic LUNC community set the stage for a potential rally in the days ahead. Binance had earlier made feature requests for the burn starting from March 1, 2023. The Binance LUNC burning would help the community’s cause to reduce the cryptocurrency’s supply. Meanwhile, traders believe the Binance burn would help boost LUNC price.

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Earlier, CoinGape reported that Binance requested that the internal movement between Binance owned wallets be exempt from the burn tax. Although the internal transfers to these wallets are exempted, external transfers to and from the wallets will still be taxed. The Terra Classic proposal also involves no-reminting of the burn wallet as part of the optional features in the next release. With the proposal received overwhelming support from the community, the changes will be made accordingly to initiate burn return by March 1.

LUNC Rally Ahead?

The last few weeks saw sideways movement with slight deviations for LUNC price. Ahead of the Binance burn, Trader Rocko believes next week will be big for the Terra Classic community. In and above the current trading range, LUNC is set for bullish momentum, it is believed. Interestingly, the Terra Classic LUNC trading volume is down by 54.49% in the last 24 hours. It remains to be seen if the return of Binance burn will propel a rally for Terra Classic price.

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Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @BitcoinReddy and reach out to him at [email protected]