CetoEX will list LUNC and implement 1.2% trading fee reduction.
The Terra Luna Classic burns are set to skyrocket as another cryptocurrency exchange announced that 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) listing on @Cetoex”, the said in a tweet.
The exchange will also implement 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”, cryptocurrency exchange listed.
Terra Classic (LUC) burning mechanism on on-chain and off-chain trade🔥🔥
— CetoEX (@Cetoex) 5 October 2022
CetoEX is a centralized cryptocurrency exchange that allows users to buy and sell over 20 cryptocurrencies including Bitcoin and Ethereum. The exchange offers a mobile application. 24/7 customer service, i.a.
LUNC investors react
The announcement brought joy to many LUNC investors, who believe the move will help accelerate the ongoing burnout 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 not living up to community expectations.
@bigmoney_for writing : “Thanks for supporting the community, it’s amazing how you do a better job than Kucoin and Coinbase.
Other exchanges Contribution to LUNC Burn
While exchanges such as Binance and MEXC Global have already backed the 1.2% tax break, few cryptocurrency trading platforms are willing to implement the proposal for LUNC trading. These crypto exchanges only implemented the 1.2% tax break on LUNC deposits and withdrawals.
As reported by TheCryptoBasic, Binance has implemented a burning mechanism which will charge fees on all LUNC spot and margin trading pairs. The largest stock exchange in the world kept its promise and recently burned 5.5 billion LUNC in a single transaction.
The number of LUNC burns has continued to increase daily as investors believe that the effort will help revive the value of the cryptocurrency. At press time, LUNC is changing hands at $0.00029463 and has fallen 4.8% in the past 24 hours.
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