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Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.
Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.
Even as the noose tightens around Terra Luna crisis, positive news is apparently keeping the Terra Classic community motivated. In a latest, the authorities have arrested Terra‘s head of general affairs.
LUNC resumed its declines at start of week
The Terra Classic price had earlier gained significant momentum and rose beyond expectations as it reached lows close to $0.00002. While the market participants hoped for another breakout, the asset broke down from the symmetric triangle, substantiating the revival of the bearish trend.
South Korea's Ministry of Foreign Affairs has invalidated the passport of Terra founder Do Kwon passport, saying he has 14 days to return it. The post Terra LUNA and LUNC Prices Drop Following Do Kwon Passport Invalidation appeared first on BeInCrypto.
Terraform Labs founder Do Kwon has been facing legal challenges since the time Terra's original chain LUNA collapsed along with its stablecoin, USTD losing its peg against dollar in May 2022. Recently the Interpol has issued a Red Notice, an arrest warrant that is applicable worldwide against Do Kwon.
Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.
Terra Classic (LUNC) continues to show extreme volatility in the market on a massive amount of trading volume.
LUNC and LUNA prices are presently in red
Terra Classic and Shiba Inu offer more risk than reward.
Binance, the world's top crypto exchange, has completed the first burn of Terra Classic (LUNC) token trading fees. This is in response to a September suggestion from the community.
Binance has announced the successful completion of its first-ever token burn on LUNC, raising the prospects of the Terra-based cryptocurrency pulling a parabolic run.
Binance has burnt LUNC worth around $1.8 million collected from the spot and margin trading.
Binance has finished its first burn of Terra Classic (LUNC), burning about $1.86 million in USDT equivalent from trading fees collected from spot and margin trading pairs. Binance first announced that it would burn the trading fees on September 26, and the next announcement will take place on October 10.
LUNA Classic (LUNC) is heading to become the new retail favorite and has even overtaken Shiba Inu's popularity. The altcoin climbed by 66% after Binance announced the LUNC burn program on September 26. Since the Terra Classic Community laid its roadmap on September 29, LUNC has faced intense criticism and unrequested suggestions.
The Terra Luna Classic (LUNC) price has dropped slightly in the past 24 hours, dipping by 0.5% to $0.00031545. Yet it remains up by 3% in a week and by 22% in a month, driven largely by Binance having completed a burn of all the trading fees it has collected from LUNC trading between September 21 and October 1.
The most distressed network, the Terra network, is trying hard to bring back its trust after the network's original chain LUNA collapsed in May along with its stablecoin, USTD losing its peg against dollar. Recently, the community had proposed for a 1.
The crypto markets have turned greener recently as the prices of the popular cryptos appear to have rebounded well. While the rebound is yet to be validated, Terra's (LUNA) price rallies, gaining nearly 12% in the past few hours. On the contrary, the LUNC price is strongly heading toward lower support.
Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.
Amount of token Binance burned does not seem to have desired effect on market value of token
The Terra Classic [LUNC] community's objective to revive the trust in the project was met with strong criticism and unrequested suggestions. Since revealing its roadmap on 29 September, LUNC has had to deal with these “vices” daily.
Binance's scheme destroyed only 0.08% of LUNC's bloated supply, too minuscule to have a lasting impact on the hyperinflated token.
Binance has finally revealed how many tokens it has burned within the first batch
