Binance and USTC Burn Proposal

Binance and USTC Burn Proposal

Blockchain Business Crypto Market
October 4, 2024 by Bitforum
339
The proposal focuses on inactive wallets tied to the Mirror Protocol, which have remained dormant since the May 2022 crash.
USTC-Binance

Binance, a leading cryptocurrency exchange, has adjusted the trading fees for LUNC to optimize its burn process. According to Binance’s official LUNC support page, the next round of LUNC burns is scheduled for Wednesday, October 2, 2024. These monthly burns have consistently been seen as positive for LUNC, as they help reduce the token’s overall supply.

Since May 13, 2022, Binance has burned approximately 64.47 billion LUNC and 4.38 million USTC, further lowering the circulating supply. This ongoing reduction has garnered significant attention from the Terra Luna Classic community, which anticipates a price rally following the event.

Discussion topic on Bitforum: https://bitforum.net/t/binance-and-ustc-burn-proposal/523

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