Terra luna announcement: Binance to Make Changes to the Burning of Terra Classic LUNC Trading Fees

Terra luna announcement

Terra luna announcement

Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. C+Charge is working on developing a peer-to-peer payment system that will be used at electric vehicle charging stations. Elsewhere, some accounts started promoting alternative cryptocurrencies alongside Luna, dubbing them Luna 2.0. These coins, which had no link to Luna, or the Terra ecosystem, quickly “pumped and dumped” after seeing their prices initially soar.

The news could fuel a 43% upswing for IMX as the hype around gaming tokens continues. Industry Recovery Initiative , which is a fund to support crypto and Web3 projects. As it stands, about 352,345,072 votes have been cast in favor of the proposal and zero votes against it. The number of votes has increased 270% from 95,200,000 votes on Wednesday. It’s unclear whether Kwon will continue to support the proposal after Terra halted the blockchain today. The following are some well-known initiatives that are now doing token presales at discounted prices, offering early adopters both immediate and long-term benefits.

US bank runs sent shockwaves through market participants, traders turned to Bitcoin and the “safe haven” narrative made a comeback. Binance’s $1 billion acquisition of bankrupt crypto lender Voyager is back on track with a ruling from a New York bankruptcy judge. Immutable X and Polygon Labs have partnered for Web3 game development acceleration. The partnership comes ahead of launching a zkEVM-powered platform for studios and developers and a day into the GDC.

Binance Will Support the Terra (LUNA) Network Upgrade

However, the new Terra LUNA prices declined by over 60% after the initial launch. Meanwhile, LUNA Classic prices showed some green indexes days after the horrible collapse. When you purchase through links on our site, we may earn an affiliate commission.Learn more.Looking for specific products? Already under severe scrutiny from a community that has seen its market cap drop by the billions, Terra quickly issued its own statement regarding impersonation. Luna’s steep price crash has brought in a new wave of Luna-central Twitter accounts, posting about how Luna will return to its previous heights and the standard messaging often used on Crypto Twitter.

If one of these rare events happened, TerraUSD could lose its peg to the dollar and the whole system could crumble. Fee rebates, or any other form of fee adjustment or fee discount. Following in the footsteps of those promoting Shiba Inu burns, other accounts would state a massive Luna burn was coming. Don’t miss CoinDesk’s Consensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. The 18-tweet thread announces Terra 2.0 will be listed by many popular exchanges.

Terra luna announcement

Stablecoins have long been considered the safer option for bringing crypto to the world. However, the recent few instances of stablecoin collapses have raised concerns regarding the same as well. Even so, Mastercard is attempting to widen its reach in the Asia-Pacific region. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned.

We will reopen deposits and withdrawals for LUNA once we deem the upgraded network to be stable, and we will not notify users in a further announcement. Terraform Labs has created something called the Luna Foundation Guard — a purpose-built branch of the organization set to protect the system from falling apart. Yesterday, it announced that it had sold $1 billion in Luna tokens to private investors. It intends to use the proceeds to buy Bitcoin — a currency uncorrelated with the dollar. Now, should something bad happen to the Terra system, it will have Bitcoin backup to step in and help TerraUSD maintain its peg with the dollar. Terraform Labs created an algorithmic stablecoin (a coin whose value is supposed to be pegged to the U.S. dollar) called TerraUSD.

Unlike some other stablecoins, it’s not backed by reserves. To briefly summarize, if TerraUSD’s value deviates from a dollar, people can make money on an arbitrage opportunity by going back and forth from Luna to TerraUSD. But because of people exploiting the arbitrage opportunity, TerraUSD’s supply is brought back in line with demand, maintaining its value at $1.

The price of Terra Luna Classic has been pump over the past few days, following a very bullish news coming from Binance. The forecasts do not provide a hundred percent positive outlook. There are a lot of different factors that will have an impact on it and alter the way that currency changes to the state of the market.

The involvement of the crypto exchanges during the crash is also under consideration. To create a new burn wallet that Binance can send the LUNC spot and margin trading fees to that does not allow re-minting of the burn amount. FightOut is a fitness application that is based on the concept of move-to-earn, which has recently received a lot of attention. Although LUNA Classic price is less correlated to Bitcoin’s moves relative to other altcoins, a sudden sell-off for the big crypto could affect LUNC. Therefore, investors need to pay close attention to today’s Binance announcement; if the burn numbers are less than expectations or underwhelming, bears could take over and trigger a crash. Terra Classic is a cryptocurrency that won’t be forgotten.


In Friday’s proposal, Kwon, who created the Terra blockchain with his Terraform Labs team, concedes that the Terra ecosystem has experienced total collapse. Terra is announcing the airdrop of Terra 2.0 after a community vote passed Proposal 1623, a bill calling for a new blockchain. We’ve detected that JavaScript is disabled in this browser. Please enable JavaScript or switch to a supported browser to continue using twitter.com. You can see a list of supported browsers in our Help Center.

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However, to truly be a good investment, it’s important for TerraUSD to be increasingly used for real-life financial transactions. If that doesn’t happen, it won’t matter that Terraform Labs has a well-laid plan. The most important thing to watch is real-world usage of TerraUSD and Terra’s other stablecoins. Terra’s meant to be stablecoin, TerraClassicUSD also saw a jump over 20% in the meantime. An additional layer to help preserve the system is a good thing in my opinion. And according to the official press release, the Luna tokens sold to private investors will be locked up over a four-year vesting period.

LUNC Price Prediction

The move comes after Terra’s not-so-stablecoin TerraUSD depegged from the $1 level it was supposed to stay atand plummeted over 99% earlier this week. Because CCHG is a utility token that can be used for transactions and rewards in addition to being an environmentally friendly cryptocurrency, its value has the potential to rise over the long run. C+Charge will provide electric vehicle owners with carbon credits in exchange for charging their vehicles by utilizing blockchain technology. Investors have the opportunity to take part in C+Charge’s initial fundraising by partaking in the presale of the project’s native token, CCHG.

Bitcoin price has managed to pull itself away from the narrative of being correlated to the United States stock market and macroeconomic conditions. The biggest cryptocurrency in the world has been rallying for more than a week now despite the ongoing banking crisis in the country, which is close to bringing down another bank. I’d say that Luna’s bull case strengthened with this news.

Decentraland price is on a 10-day uptrend as it moves diagonally along an ascending trendline. MANA could ascend 21.68% from the current price to tag the $0.7330 resistance level last tested on February 21. The bullish thesis could be invalidated if the gaming token drops below the uptrend line at $0.6015.

Terra Classic was built on Cosmos SDK and Tendermint as a proof-of-stake blockchain. Do Kwon and the rest of the Terra team developed a brand new blockchain that does not use based optimization and released Terra . The plan comes as Terra’s terraUSD stablecoin, which is supposed to be pegged to the price of $1, “death spiraled” below 15 cents this week – wiping out over $30 billion in value. UST’s sister token, LUNA, which propped up the stablecoin’s value, has fallen to below a penny (LUNA was worth above $80 just a week ago).

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The 14 tweet thread outlines plans to learn from the calamitous TerraUSD collapse that brought the Terra ecosystem down by over 99%. Binance will continue to work with the community to support the implementation of this new plan, and if for any reason this can’t be done, Binance will consider withdrawing the burn contribution going forward. Using cutting-edge technology, such as blockchain, the project’s objective is to make maintaining a healthy lifestyle less difficult and more time-effective. Gain experience levels, complete challenges, and collect rewards while you interact in the metaverse. FightOut is conducting a presale of FGHT with a time-limited bonus. You can purchase FGHT on t he official website using ETH, USDT, and credit cards .

Dash 2 Trade is an innovative cryptocurrency analytics and trading signals platform that was just released. It is furnished with a large number of features that are uncommonly seen in other projects. The fourth quarter of 2022 marked the beginning of its presale. Taking a look at the previous three months, we did see a nice burn amount at the beginning of December, however, we are in a slump at the moment. The total amount of lunar classic burnt is 0.53% of the total supply, and as you can see, the price has not yet recovered to $0.0059. The full Terra Luna Classic price predictions in the video above, follow his YouTube channel for more crypto price predictions.

The central reason is that Do Kwon, the creator of Terra and LUNC, is being hunted by the Interpol. This system counts on people making easy money, and so far it’s worked splendidly. But there are theoretically outlier events that could cause people not to want to exploit the arbitrage opportunity.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss. Meanwhile, the Terra LUNA 2.0 finally registered a surge in its price from the initial fall. LUNA is trading at an average price of $6.6 after dropping from the price level of $17. After the Luna crypto crash saw Luna drop below $0.01, many social media handles popped up with Terra Luna in their name, promoting potential announcements.