• About
  • Contact
  • Privacy Policy
  • Terms and Conditions
Tuesday, June 17, 2025
The VR Soldier
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
The VR Soldier
No Result
View All Result

More CEXs Supports $LUNC 1.2% Burn Tax, Over 550 Billion Staked

LUNC to the Moon!

Will Izuchukwu by Will Izuchukwu
September 13, 2022
in News
Reading Time: 4 mins read
0
terra luna staking
19
SHARES
Share on TwitterShare on Facebook

Multiple centralized exchanges are showing massive support for LUNC’s 1.2% Tax Burn Proposal, which MEXC exchange became the first to take such moves, as reported in its announcement.

For those unaware, 1.2% Tax Burn is a proposal that seeks to tax all on-chain activity. In the end, this implies that all monetary transactions between wallets and smart contracts that interact with the chain will be taxed and destroyed.

Some other CEXs to join the move include KuCoin, as revealed in the exchange blog post.

Binance has also passed the proposal for the tax burn, which according to the announcement, is expected to go live on 2022-09-20 at the Terra Classic block height of 9,475,200 after the proposal is submitted.

Gate.io exchange is the latest to hint at supporting the proposal, as seen in a recent tweet from the exchange.

1.2😉

— Gate.io (@gate_io) September 10, 2022

Many groups from the LUNC community are patiently waiting for Binance to initiate the tax burn, which they believe will also contribute massively to restoring the asset.

Over 540 Billion LUNC Staked

Some weeks ago, the LUNC community kicked off a massive token staking program, which recorded tremendous results just two days after the program went live. The move was spearheaded by @LUNCDAO, who even promised to burn its portion of LUNC afterward as it solely seeks to help the community instead of making personal gains.

For those unaware, LUNCDAO is a team of long-term builders and OGs working with LUNC since 2020 and have continued to show its support even during the crisis and afterward.

There are over 550 Billion LUNC staked with over 160K unique stakers who have decided to lock up their assets depicting ‘diamond hands.’ The current APR for the staking is at 318.402%, with some top validators such as Allnodes.com with 108.8B Voting Power, LUNC DAO with 57.7B, Orion.Money with 106.4B and Interstellar Lounge with 86.3B voting power. Orion.Money has the highest number of delegates at 51,375, according to the SmartStake data analytics tool.

Do Kwon Might Have Something In The Works

Since going against the community’s demand for a burn instead of a token fork, Do Kwon hasn’t been active online, especially on Twitter. However, it looks like he has gotten an idea to revive the project, which many are eagerly waiting on.

Do Kwon has retweeted some tweets showing that he may be up to something for the project.

First he 💡
Then he 🛠️
Next we 🍾

— Cryptrus 🌓🉐🧩 (@cryptrus) September 9, 2022

As of now, it’s still not yet revealed what his plans are for the community, but that’s not in any way discouraging the ever-pumped community from seeing the asset moon again.

$LUNC Price Action and the Next Move

Throughout last week, $LUNC staged a dramatic, massive price pump with over a 6X price increase as Twitter exploded with enthusiasm from supporters who even called for the possibility of $LUNC hitting $1 or at least $0.5. Whether that’s overshot or not, the crypto space can be wild, and nothing’s impossible.

Last week, $LUNC climbed from $0.00008386 to a high of $0.0005723. It has declined to low $0.00028 levels, which many analysts believe is gathering momentum for another bull run.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.

Follow us on Twitter @thevrsoldier to stay updated with the latest Metaverse, NFT, A.I., Cybersecurity, Supercomputer, and Cryptocurrency news!

Image Source: fellowneko/123RF // Image Effects by Colorcinch

Tags: Terra Luna
Previous Post

This Week, The Prices Of Bitcoin And Ethereum Have Significantly Increased 13.34% And 11.76% Respectively

Next Post

Top 5 Metaverse Tokens Below $0.01 to Watch in September 2022

Related Posts

Featured

Trump Earns $57M from Crypto Venture

June 14, 2025
$3 Billion in Bitcoin Options Expire Today — Will BTC Crash or Bounce?
News

$3 Billion in Bitcoin Options Expire Today — Will BTC Crash or Bounce?

June 14, 2025
Market Analysis

XRP Price Prediction: Is History About to Repeat Itself?

June 9, 2025
Featured

Zhao DEX Could Challenge HyperLiquid

June 8, 2025
Featured

Trump vs Elon Musk: Dogecoin Tumbles on Market Fear

June 7, 2025
Trump vs Elon Musk: Bitcoin Dips as Tesla Crashes
News

Trump vs Elon Musk: Bitcoin Dips as Tesla Crashes

June 6, 2025

Press Releases

What you will get:  Simple steps to start trading cryptocurrencies like Bitcoin and Ethereum How to choose a reliable crypto exchange with low fees and strong security Key tips to read crypto price charts and manage trading risks How to stay updated with market-moving news and practice safely before investing Introduction Cryptocurrency trading has exploded in popularity as an easy way to earn online. With simple guidance you can start trading Bitcoin Ethereum and other altcoins using your phone or computer. This guide gives clear steps for beginners. What Is Crypto Trading and How Does It Work Crypto trading is buying and selling digital currencies like Bitcoin Ethereum Cardano or Solana to make a profit. You buy when prices are low and sell when they go higher. There are two main trading types: Spot trading: You own actual coins. Derivatives trading: You trade based on price movements without owning coins. Spot trading is perfect for beginners because it’s more straightforward and less risky. Step 1 Choose a Reliable Crypto Exchange Select a trusted crypto exchange. Popular beginner-friendly options: Binance: Low fees and many altcoins Coinbase: Easy for beginners with strong security Kraken: Great support and euro compatibility Bybit: Simple interface with spot and futures Look for: Easy sign up and verification Strong security (2FA, cold storage) Low trading fees and fast euro or fiat deposits Wide selection of coins and high volume Step 2 Learn Crypto Chart Reading Reading price charts will improve your crypto trading success. Key concepts: Trend lines: Overall up or down movements Support levels: Prices where value tends to bounce up Resistance levels: Prices where value tends to slow or reverse Start with basic charts like candlestick charts. Many platforms like Binance and Kraken offer built-in guides. Step 3 Manage Risk and Use Stop Losses Crypto prices are very volatile and can change fast. Protect your investment by: Investing only what you can afford to lose Using stop-loss orders to sell automatically at a set lower price Not risking more than 1–2% of your portfolio on any trade This risk management helps you stay in the game long term. Step 4 Stay Updated with Real-Time Crypto News Crypto markets respond instantly to news. Use reliable sources like Vr Soldier, CoinDesk, CoinTelegraph and The Block. Track: Bitcoin ETF decisions New coin listings on exchanges Regulatory changes Major partnerships and developments Following crypto news helps you predict good entry and exit points. Step 5 Use Demo Accounts to Practice Many exchanges like Binance and Bybit offer demo accounts or testnets. Practice trading with virtual money first. This helps you learn: How orders work Chart reading in real time Trading fees and order types Once you feel confident, move to small real trades. Final Simple Tips for New Crypto Traders Start with well-known coins like Bitcoin Ethereum Avoid chasing hype or FOMO (Fear Of Missing Out) Keep a basic trading journal or spreadsheet Learn from both wins and losses Crypto Trading Basics for Long Term Profit
Education

Crypto Trading Basics for Long Term Profit

by Alex Mercer
June 16, 2025

What you will get:  Simple steps to start trading cryptocurrencies like Bitcoin and Ethereum How to choose a reliable crypto...

Read more
$3 Billion in Bitcoin Options Expire Today — Will BTC Crash or Bounce?

$3 Billion in Bitcoin Options Expire Today — Will BTC Crash or Bounce?

June 14, 2025
Trump vs Elon Musk: Bitcoin Dips as Tesla Crashes

Trump vs Elon Musk: Bitcoin Dips as Tesla Crashes

June 6, 2025
Binance Beats SEC—Crypto Cheers the Legal Victory

Binance Beats SEC—Crypto Cheers the Legal Victory

June 2, 2025
Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?

Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?

May 25, 2025
The VR Soldier

© 2024 The VR Soldier

Navigate Site

  • About
  • Contact
  • Privacy Policy
  • Terms and Conditions

Follow Us

No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases

© 2024 The VR Soldier