|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Binance Burns Over $100K Of LUNC, But Critically Low Trading Volume Imposes Challenges On Revival Efforts
Sep 26, 2024 at 01:29 am
Amidst the whirlpool of developments on Terra Luna Classic's (LUNC) blockchain, Binance has decided to up the ante on its LUNC burns.
Binance has burned an additional 199,389 LUNC tokens in five separate transactions.
The total trading fee generated on Binance for LUNC amounts to $97,229.23.
Terra Classic community members are proposing to keep a $500 minimum deposit for new proposals.
Terra Luna Classic (LUNC) Price Today Surges 1.7% Amidst Binance Burn Update: Deep Dive
Terra Classic (LUNC) price reacted positively to the latest Binance burn update with a 1.7% increase in its value. At the time of writing, LUNC trades at $0.00008749.
Terra Classic (LUNC) price chart. Source: CoinMarketCap
As covered recently, Binance burned an additional 199,389 LUNC tokens in five separate transactions. The total trading fee generated on Binance for LUNC amounts to $97,229.23.
Binance regularly burns 50% of the accumulated LUNC trading pair fees on the first of each month. However, in September 2024, the exchange orchestrated five more LUNC burns.
Terra Classic Community Proposes $500 Minimum Deposit for New Proposals
Meanwhile, LUNC members are upvoting a governance proposal to keep a $500 minimum deposit for new proposals, imposing an Oracle-based quality control mechanism.
According to the proposal, the community members are suggesting to decrease the proposal minimum deposit from 100,000 LUNC to 500 LUNC, and to introduce an Oracle-based quality control.
“We saw a massive influx of low-quality proposals last chain halt,” reads an excerpt from the proposal. “This proposal aims to decrease the proposal minimum deposit to 500 LUNC and introduce an Oracle-based quality control. This will help to deter low-quality proposals and ensure that the proposals that are put forward are of a high standard.”
The proposal aims to address the issue of low-quality proposals being submitted to the Terra Classic governance system. In the past, this issue has led to the chain being halted multiple times.
The proposal is currently up for voting, and the results will be announced soon.
Why It Matters
Burning initiatives coordinated with major centralized exchanges can positively shift a coin’s dynamics, reducing a large chunk of the overprinted supply.
Explore DailyCoin’s top crypto news:
Ripple Gears Up for SEC Appeal as October Deadline Looms
Have Bitcoiners Finally Won Over BlackRock’s Larry Fink?
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- MemeBet Token — World's First Meme Coin Casino That Could Explode After Launch
- Sep 26, 2024 at 04:25 am
- The goal of meme cryptos is to deliver massive gains to their investors in record time. However, many lack the utilities or strategic tokenomics to become sustainable.
-
- Worldcoin (WLD) Price Chart Hints a Bullish Trend is Brewing; Can Bulls Reclaim the $6 Mark?
- Sep 26, 2024 at 04:25 am
- The Worldcoin price chart has reached a fascinating point where it resembles a previous pattern but the technicals suggest a huge bull run is on the horizon.
-
- Bitcoin Price Prediction: Will BTC Reach $100K or Even $1M by 2025?
- Sep 26, 2024 at 04:25 am
- Bitcoin experienced a significant rally in early 2024, following the launch of the first spot bitcoin exchange-traded funds in January.
-
- SEC Chair Gary Gensler Defends Crypto Custody Regulation Firmly
- Sep 26, 2024 at 04:25 am
- SEC Chair Gary Gensler has assured Congress during a congressional testimony that the Staff Accounting Bulletin (SAB) 121 will continue to be operational.
-
- MemeFi ($MEMEFI) Makes Debut on Bitget Exchange, Offers Pre-Market Trading Ahead of TGE
- Sep 26, 2024 at 04:25 am
- MemeFi ($MEMEFI) has officially made its debut on the Bitget exchange, offering pre-market trading ahead of the Token Generation Event (TGE).
-
- Worldcoin's WLD Token Surges 54% in Three Days, Retesting $2 Resistance
- Sep 26, 2024 at 04:25 am
- Worldcoin’s WLD token surged for a third consecutive day, climbing 54% from its August low, following the project’s expansion into three additional countries.
-
- Bitcoin ETFs Record Fresh Inflows, SwissCheese’s Price Rallies, & BlockDAG Launches Testnet—30,000x ROI on the Horizon?
- Sep 26, 2024 at 04:25 am
- The spotlight is once again on Bitcoin ETFs, which have just welcomed a hefty $263 million in new inflows, marking a robust revival of interest from institutional traders.
-
- The Sandbox (SAND) Poised for a Price Decline as Millions of Tokens Are Dumped onto Centralized Exchanges
- Sep 26, 2024 at 04:25 am
- After experiencing a notable rally over the past few days, The Sandbox [SAND] looked poised for a price decline as millions of tokens are being dumped onto centralized exchanges.
-
- Hedera (HBAR) Price Prediction: HBAR Continues Positive Trend, Up 17% in a Week
- Sep 26, 2024 at 04:25 am
- Over the past 24 hours, Hedera's HBAR/USD price rose 3.04% to $0.06. This continues its positive trend over the past week where it has experienced a 17.0% gain