Binance Allegedly Supports Terra Classic’s USTC Revival Plan Amidst LUNC Burn Campaign
Binance, the world’s largest cryptocurrency exchange, has made significant strides in supporting the Terra Luna Classic community. Recently, Binance community associate Diana posted a cryptic message on the X platform suggesting that Binance might be involved in the USTC rebirth. This post has sparked a lot of interest in the community.
Binance’s Contribution to LUNC Burn Campaign
Binance has played a significant role in the LUNC burn campaign, which aims to decrease the token quantity in the market. The exchange has burnt over 62 billion LUNC, which is 49% of the total tokens burnt by the community. Thus, the community has a burning history of over 126 billion tokens.
As outlined in our recent blog post, over 1.017 trillion Terra Luna Classic (LUNC) tokens, valued at $70.15 million, have been staked. The staking ratio has increased from 14.83% to 15.01%.
The USTC repeg plan has encountered some challenges, which has left the community relying on Terraform Labs and the Luna Foundation Guard to burn USTC from their wallets. The news of Binance’s possible participation in the USTC revival plan is considered a game-changer that can bring new life to the token.
The burn campaign is part of the larger plan to stabilize the value of #LUNC✅ . However, the Terra Luna Classic community has faced some obstacles, and the monthly burn mechanism from Binance has been quite helpful. #changpengzhao , the former CEO of Binance, also disclosed that Binance invested $3 million in Terra (currently #TerraLunaClassic ) and has not traded or sold any of the $LUNC tokens, which shows Binance’s long-term interest.
Diana’s recent post on the X platform, reposted by the well-known community member Mr. Diamondhandz1, mentioned that Binance could also be involved in the #USTC revival plan. This has raised hope among the community members who have been anticipating positive changes in the $USTC market.
