Top Cryptocurrency Exchanges Support LUNC Burn

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Three cryptocurrency exchanges have announced to implementation of Terra Classic's proposal to reduce taxes on LUNC and USTC on-chain transactions.

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This comes hours after Binance announced that it would follow a proposal recently approved by the Terra Classic community.

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After Binance announced its support for the initiative, major cryptocurrency trading platforms such as KuCoin, OKX and Crypto.Com followed suit.

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Crypto.com to reduce the tax burn rate on-chain transactions, including deposits and withdrawals, from 1.2% to 0.2%.

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OKX also stated to reduce the tax burn for USTC and LUNC from 1.2% to 0.2% .

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Whereas KuCoin stated, “KuCoin will support the tax burn deduction of LUNC & USTC tokens when the 0.2% tax burn goes live at the Classic Terra block height of 9,878,400.”

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At press time, Terra Classic price is $0.000250 USD whereas TerraClassicUSD price is $0.038965 USD.

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