LUNC investors may have some short-term hopes, however caution is advised

The enthusiasm of the entire crypto community has reached another level as the long-awaited 1.2% Classic Earth [LUNC] the taxation protocol has been implemented. The new protocol was successfully implemented at a block height of 9,475,200 on 21 September.

This is an important development in the LUNC ecosystem as it would help LUNC gain more long-term value. Under the original plan, this new taxation mechanism is expected to continue until the total supply of LUNC reaches 10 billion.

Not only this; there is more meat in history as LUNC continues to receive immense support from multiple cryptocurrency trading platforms. With all these developments in the community, can we expect brighter days for the token in the coming days?

LUNC stronger than ever

KuCoin, a popular cryptocurrency exchange, recently announced that it will support the 1.2% tax burn and open the Terra Classic mainnet withdrawal service. When the mainnet LUNC token withdrawal service becomes available, the fee will become active on KuCoin. Interestingly, users who deposit LUNC and USTC tokens in KuCoin will not be charged any fees.

In the official statement, he mentioned KuCoin,

β€œKuCoin will open the mainnet pickup service Classic Earth token at 13:00:00 on September 21, 2022 (UTC). “

Additionally, eToro, another cryptocurrency trading platform, also revealed that it plans to support the burning protocol, sparking excitement within the community.

A long journey ahead

While developments around LUNC look extremely promising, it still has a long way to go before it can claim its former status. However, LUNC has certainly passed several short-term milestones that have given investors hope for a brighter future for the token.

In addition to making huge gains over the past month, LUNC recently made the list of the top 10 coins by social mention on September 21, according to Lunar Crush.

However, despite these positive developments, LUNCH‘s price does not match immediately as it has experienced negative growth in the 24 hours.

At press time, LUNC was trading at $ 0.0002831 with a market cap of $ 1,741,334,410. Therefore, what the tax burn actually brings to the table is a question that only time can answer.

Source: CoinMarketCap

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