The Terra Luna Classic community is preparing to make a big offer to Binance. Members who requested the leading exchange to burn LUNC as well as USTC hope for a sharp recovery in altcoin prices.
Terra Luna Classic community will ask Binance to burn more altcoins
Terra Luna Classic, a vocal altcoin community, officially approved the proposal today, voting to make a significant request from Binance. The community demands that Binance burn USTC along with LUNC. Their goal is to increase the value of USTC back to $1 and increase the value of LUNC.
Binance is currently burning 50% LUNC every month. The community wants USTC to be burned along with the remaining 50%. This move will accelerate the return of USTC to $1 by the Quant team. Proposal 11785, a vote in favor from the altcoin community, is also triggering enthusiasm on social media.
Rating and expectations
Under Proposal 11785, the community proposed monthly burning of USTC to Binance. This proposal was accepted by the community with 42.85% “yes” votes. The community expects the value of USTC to reach $1 if Binance accepts this move. Altcoins of the Terra ecosystem have been maintaining sideways movements lately.
This vote was a big step for the Terra Luna Classic community. Binance has become the largest supporter of LUNC, burning approximately 38 billion LUNC so far. The community hopes that if Binance accepts the USTC burn offer, the altcoin price will experience a significant increase. USTC price is currently trading lows near $0.0124.
Latest situation in the altcoin market: What’s next for LUNA and LUNC?
However, the prices of LUNC and USTC have been declining recently. In the last 24 hours, LUNC price has decreased by 2%. The altcoin price is currently trading at $0.0000571. On the other hand, USTC price also started trading at $0.012, down 1%.
Altcoin investors continue to buy despite the decline in prices. However, this has not brought any bullish momentum at the moment. Still, if Binance accepts this burn offer, it will have a direct impact on the balance of the market.
In summary, the Terra Luna Classic community expects great support from Binance. Binance is going through a difficult time due to its problems with the US Securities and Exchange Commission (SEC). However, by accepting this offer, you can support the altcoin community. If this happens, it will provide some momentum to both LUNC and USTC. cryptokoin.com We have included a remarkable K33 report about Binance in this article.
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