In response to Binance’s burn scheme, Terra blockchain’s Luna classic (LUNC) price increased by up to 60%, reaching $0.00032. While writing, the token is changing hands for around $0.00030.
When the UST lost its dollar peg and collapsed in May, the LUNC (LUNA) entered a hyperinflationary spiral. LUNC is now up by nearly 60.94% in the last 24 hours as of press time.
Following Binance’s announcement to burn all trading commissions collected on LUNC spot and margin pairs against BUSD and USDT, the token experienced a sudden rally, despite news that Interpol had issued a “red notice” for Terra’s founder, Do Kwon.
