CetoEX Support For Terra Classic 1.2% Burn on LUNC Trading to be Announced Soon

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Terra LUNC Community Approves New Measure to Reduce Tax Burn
Terra LUNC Community Approves New Measure to Reduce Tax Burn

Burns for Terra Luna Classic are expected to soar as another cryptocurrency exchange revealed it would include LUNC on its trading platform. The 1.2% tax burn on trading will go into effect and CetoEX will list LUNC.

In a recent release, CetoEX Global Services Crypto mentioned that LUNC would be listed on its platform on October 10, 2022, at midnight UTC.

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The exchange tweeted, “Thrilled to announce Terra Classic (LUNC) listing soon on @Cetoex.”

As stated by the exchange, LUNC trading as well as on-chain and off-chain transactions will also use the 1.2% tax burn mechanism.

Users of CetoEX, a controlled cryptocurrency exchange, can purchase and sell over 20 different cryptocurrencies, including Bitcoin and Ethereum. A mobile app is offered by the exchange. In addition, there is always customer service.

Reactions From Terra Investors

Many LUNC investors rejoiced at the news because they think it will hasten the continuing burn of the cryptocurrency’s total supply. In response to their tweet, one of the investors stated:

Let’s gooooo Cetoex Welcome to family.”

Some LUNC investors took advantage of the occasion to criticize rival cryptocurrency exchanges for falling short of community expectations.

Contributions to LUNC Burn Through Other Exchanges

Despite the 1.2% tax burn already having the approval of exchanges like Binance and MEXC Global, not many cryptocurrency trading platforms are ready to execute the idea on LUNC trading. Only the 1.2% tax burn has been applied by these crypto exchanges to LUNC deposits and withdrawals.

All LUNC spot and margin trading pairs will be subject to fees thanks to a burn mechanism that Binance has put in place. The biggest exchange in the world kept its word and recently burned 5.5 billion LUNC in a single transaction.

Investors are convinced that the efforts will help restore the value of the coin, which has led to a daily increase in the number of LUNC burns. At the time of publication, LUNC is trading at $0.00029463 and has dropped 4.8% over the previous day.

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