Binance, the world’s leading cryptocurrency exchange, made a statement earlier today. In the statement, cryptocurrencies in the top 10 are included. According to the statement, LUNC was among the top 10 cryptocurrencies with the highest trading volume on Binance and KuCoin. As Kriptokoin.com, we convey the altcoin projects on the list to you.
Binance users follow these altcoins
Since last May, LUNC, one of the altcoins of the Terra ecosystem, has experienced serious decreases. However, there has been a strong community behind LUNC lately. It also ranked sixth among the top 10 cryptocurrencies with the highest 24-hour trading volume on Binance. This success of the altcoin came after Binance users made $ 61.42 million worth of trading. According to Binance data, LUNC has outstripped other altcoins. It ranked ahead of other top cryptocurrencies, including Polygon (MATIC) and Dogecoin (DOGE).
The ranking on Binance is as follows:
- Leading cryptocurrency Bitcoin
- Leading altcoin Ethereum
- Binance Coin (BNB)
- The altcoin of FTX is FTT
- Ripple (XRP)
- Terra Luna Classic (LUNC)
- Polygon (MATIC)
- Dogecoin (DOGE)
- Left (LEFT)
Similarly, LUNC has also topped KuCoin’s top 10 cryptocurrencies with 24-hour trading volume.
LUNC ranked 10th, recording $5.06 million in 24-hour trading volume on KuCoin. According to CoinMarketCap data, LUNC has a 24-hour trading volume of $ 210.9 million, up 101 percent in the past day.
LUNC burning continues
The community continues to impose a 1.2 percent tax on all LUNC on-chain transactions. However, it is known that the LUNC volume decreased substantially after the application. A 1.2 percent charge was applied to LUNC deposits and withdrawals. As a result, it is seen that many investors have left the altcoin.
LUNC’s low volume is reflected in the number of tokens burned weekly by Binance through the exchange’s burning of trading fees for LUNC spot and margin trading pairs. After the first two batches, the number of LUNC burned in the following weeks decreased significantly. Binance sent 5.5 billion LUNC to the official Terra Classic dead wallet address in its first week. 2.9 billion LUNC was transferred to the dead wallet in the second LUNC burns of the exchange.
Binance burned 2.5 billion and 1.3 billion tokens in the third and fourth LUNC burns, respectively. However, the LUNC community changed the tax burn parameter to 0.2 percent to increase LUNC volume again. Due to this change requirement, the disadvantage of 1.2 percent tax loss on the volume of the asset emerged. While LUNC volume continues to rise, its volatility is now reflected in the price.
