French TV Station Features Terra Luna Classic (LUNC)

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

Analysts and investors alike have been intrigued by Terra Classic’s (LUNC) community efforts to revive the values of ecosystem tokens, which dropped dramatically in May 2022.

There have been a few appearances of Luna Classic on American television. Still, most recently, it was featured on a business news channel in France called BFM Business, the first business news channel in France. Additionally, it is the country’s top business news channel.

Related: LUNC Community Have Stiff Hostility About The New Terra Classic Re-peg Proposal

The development occurred earlier this week. BFM Business discussed the Terra Luna Classic tokens under a caption that was written in French, “TERRA CLASSIC LUNC: RETOUR EN FORCE,” which means TERRA CLASSIC LUNC: GREAT COMEBACK. 

Related article: Stablecoin Market Swap Should Be Removed And Secured: Terra Classic (LUNC) Core Developer

Burning of LUNC Fees by Binance

During the interview, the reporter discussed Binance’s decision to introduce a burn mechanism to burn the fees associated with both margin and spot trading pairs for LUNC. In response to the world’s largest exchange’s announcement that LUNC fees would be burned, the value of LUNC increased by more than 70%, according to the analyst. Terra tokens, including LUNC and USTC, became Binance’s Top Gainer assets a day after the exchange announced trading burns, according to fxcryptonews.

The world’s largest 24-hour trading exchange maintained its word this week, burning a large amount of LUNC tokens. Binance burned 5.5 billion Luna Classic tokens in a single transaction, bringing the total burned to over 13 billion.

Luna Price Movement

On October 2, 2022, the price of Luna Classic rose to $0.000362. However, the token’s value has since fallen to $0.000309. LUNC is still up 10.8% in the last seven days as investors continue to launch initiatives aimed at reviving the cryptocurrency’s value.

Terra investors are optimistic that LUNC will make a strong comeback. The number of cryptocurrency exchanges that have implemented the 1.2% tax burn bolsters their confidence.

As people continue to trade LUNC on various exchanges, the token’s total supply will plummet following the 1.2% tax burn, boosting the cryptocurrency’s value.