Very early today, Binance, the cryptocurrency exchange, communicated a important information on its site. The platform will now integrate Terra Classic (LUC) and TerraclassicUSD (USTC) with Binance Convert. Good news for the Binance community, which makes currently facing some stock exchange restrictions on supporting part of the fee for LUNC and USTC.
LUNC and USTC: The two new tokens integrated by Binance
The crypto exchange announced on Monday, September 12, its willingness to further support Terra Classic (LUNC) and TerraClassicUSD (USTC). In addition to this support, it provides to integrate the two tokens with Binance Convert. It was on the official website of the crypto exchange that the information was released: “Visit Binance on the website, click on “Trade“, and select “Binance Convert” from the context menu. If you’re on mobile, just open your Binance app, click on “Trade,” then select “Convert” from the top menu. »
This integration will allow users to use Binance to convert USTC and LUNC tokens to other supported cryptocurrencies. For converting LUNC and USTC to bitcoin (BTC), Binance (USD) does not charge any transaction fees. With this addition of the two new tokens, the exchange hopes to increase the volume of transactions on its platform. At the same time, it wishes to broaden its assistance to the Terra community.
This decision also follows the will of the platform to bear the 1.2% tax for LUNC and USCT across the Terra Classic network. The exchange expressed reservations, arguing that it would only take into account the burn tax on withdrawals and deposits. A restriction that does not sit well with the Binance community. In doing so, the platform does not rule out the possibility of reviewing and debating off-chain tax burning for Terra Classic.
Terra tokens are up 200%
The support of the exchange with this addition of the two tokens is already bearing fruit. According to figures from CoinMarketCap, Terra Classic and TerraClassicUSD are in the top 100 cryptocurrencies. The value of LUNC is experiencing an unprecedented rise with a ceiling at $0.00058. Terra Luna also records a jump of nearly 200% in just 2 hours. The token displays a price of 7.06 dollars and records daily exchanges of nearly 6 billion dollars.
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