This Exchange To Support Terra Classic 1.2% Burn On LUNC Trading

CetoEX will list LUNC and implement the 1.2% trade tax reduction.

Terra Luna Classic burns are set to skyrocket as another cryptocurrency exchange announced it would list LUNC on its trading platform.

CetoEX Global Crypto Services noted in a recent announcement that it will list LUNC on its platform on October 10, 2022, midnight UTC.

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“Excited to soon announce Terra Classic (LUNC) roster on @Cetoex”, the said in a tweet.

The exchange will also implement the 1.2% tax reduction mechanism on LUNC trading and on-chain and off-chain transactions.

“Terra Classic Burning Mechanism (LUNC) on On-Chain and Off-Chain Trading”, the cryptocurrency exchange noted.

CetoEX is a centralized cryptocurrency exchange allowing users to buy and sell over 20 cryptocurrencies including Bitcoin and Ethereum. The exchange offers a mobile application. 24/7 customer service, among others.

LUNC investors react

The announcement brought joy to many LUNC investors, who believe the move will help accelerate the ongoing burn of the cryptocurrency’s total supply.

@momoshi_san Said:“let’s go Ketoex Welcome to the family.

Some LUNC investors took the opportunity to criticize other cryptocurrency exchanges for failing to meet community expectations.

@bigmoney_for writing :Thank you for supporting the community, it’s baffling how you do a better job than Kucoin and Coinbase.

Other exchanges Contributions to LUNC Burn

While exchanges like Binance and MEXC Global have already backed the 1.2% tax cut, few cryptocurrency trading platforms are willing to implement the proposal on LUNC trading. These crypto exchanges only implemented the 1.2% tax cut on LUNC deposits and withdrawals.

As reported by TheCryptoBasic, Binance has implemented a burn mechanism which will collect fees on all LUNC spot and margin trading pairs. The largest stock exchange in the world kept its promise and recently incinerated 5.5 billion LUNC in a single transaction.

The number of LUNC burns has continued to rise daily as investors believe the efforts will help revive the value of the cryptocurrency. At press time, LUNC is changing hands at $0.00029463 and is down 4.8% in the past 24 hours.

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