The new 1.2% token burn tax on Terra Classic (LUNC) will start to apply from the 12th of September.
The crypto of the failed Luna project is back, being one of the main drivers of the crypto market during this last week. Luna's new crypto community has approved introducing a new burn tax of 1.2% for all transactions made on its network.
Luna's new crypto is experiencing a hectic week. After its price skyrocketed from $0.00007154 to the maximum of $0.0003 that Terra Classic (LUNC) has reached until today, September 1, the Luna Classic 1.2 update is scheduled to be deployed on September 12, the which among other novelties will bring with it this new token burning tax.
On September 12, the 1.2% burn tax will arrive on the Luna Classic (LUNC) crypto
Terra Classic 1.2 should begin to be available from next September 12. If everything goes according to plan, one of the novelties of this update will be the LUNC 1.2% burn tax, a token burning tax that will be applied to any transaction carried out on this network.
Terra Classic (LUNC) has seen its trading volume rise 380% in the last 24 hours, with the token price surging by more than 100%, currently trading at $0.00035. Now that the validators have already approved this new tax, it remains to be seen if, after the introduction of the update, the market demand for Luna Classic (LUNC) will maintain the trail of growth that it has been showing for several days to respond to the new burning of tokens. for tax.
3 trillion LUNC tokens burned so far
Just a few days ago it was known that more than 3 billion LUNC tokens have been burned to date. This was reported by the LUNC Burn Twitter account, which is in charge of monitoring all token shipments made to Terra's crypto-hell wallet, terra1sk06e3dyexuq4shw77y3dsv480xv42mq73anxu.
We will see from September 12 how much is burned daily and if we can see the potential for recovery of this cryptocurrency, do you think it could reach $1?
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