{"id":156644,"date":"2023-09-15T19:58:31","date_gmt":"2023-09-15T14:28:31","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=156644"},"modified":"2023-09-15T19:58:31","modified_gmt":"2023-09-15T14:28:31","slug":"binance-to-help-terra-luna-classic-lunc-repeg-ustc-to-1-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/binance-to-help-terra-luna-classic-lunc-repeg-ustc-to-1-crypto-news\/","title":{"rendered":"Binance To Help Terra Luna Classic (LUNC) Repeg USTC To $1? – Crypto News"},"content":{"rendered":"

<\/p>\n

\n

The Terra Luna Classic community seeking crypto exchange Binance to extend support to burn USTC monthly, along with the current LUNC burn mechanism. A new proposal seeks to ask Terra Luna Classic\u2019s largest LUNC burner Binance to also burn USTC. It will help the community and the Quant USTC developer team to repeg USTC to $1.<\/p>\n

Terra Luna Classic Community Proposes Binance to Burn USTC<\/h2>\n

Proposal 11785 \u201cAsking Binance to Start Burning USTC\u201d is up for voting on Terra Classic Station and the initial voting indicates the community favors the proposal. The deadline for voting on the proposal is September 21.<\/p>\n

<\/p>\n

The proposal has received 97% \u201cYes\u201d votes, indicating massive support from the Terra Luna Classic community. Also, it has 2% \u201cNo\u201d and 1% \u201cAbstain\u201d votes. Validators such as JESUSisLORD have favored<\/a> the proposal.<\/p>\n

The community aims to ask Binance to start burning USTC monthly. Binance currently burns 50% LUNC in monthly burn mechanism and the community seeks to start burning USTC monthly with the remaining 50%.<\/p>\n

\n

\u201cBy having the largest cryptocurrency exchange in the world to help burn the circulating supply will directly contribute to the success of the re-peg of USTC to the USD.\u201d<\/p>\n

<\/p>\n<\/blockquote>\n

<\/p>\n

Binance burning USTC will help with repeg to USD and will also raise LUNC prices. Meanwhile, the Quant USTC repeg team is working to repeg USTC to $1 with several strategies including market swap and automatic marker maker. However, the plan has failed as centralized exchanges failed to agree to an earlier plan of the Quant team.<\/p>\n

Also, if proposal 11784 \u201cStop USTC minting and reminting\u201d passes, the community will get an added advantage. It may open the door for large institutions to burn USTC, which will benefit investors that hold USTC or LUNC.<\/p>\n

LUNC price currently trades at $0.000057, moving mostly sideways in the last 24 hours. Meanwhile, USTC price jumped 3% in the past 24 hours, with the price currently trading at $0.0125.<\/p>\n

Also Read:<\/strong><\/p>\n

<\/p>\n

\n
\n

\u2713 Share:<\/p>\n

<\/a><\/p>\n

\n
\n \"coingape\"
\n<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n
\n
\n

<\/p>\n

\"\"\"\"<\/div>\n
Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n

\n
\n

<\/p>\n

\"\"\"\"<\/div>\n
Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p>\n

\n
\n
\n
\n
\n<!–<\/p>\n
<\/div>\n

–><\/p>\n

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry. <\/p>\n<\/p><\/div>\n

\n \"\"\"\" <\/div>\n<\/p><\/div>\n<\/p><\/div>\n
\n

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n Crypto Stories<\/span><\/p>\n

View all<\/a>\n <\/div>\n

\n
\n
\n
\n <\/p>\n
\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\"\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\"<\/div>\n
Twitter is now worth just 33% of Elon Musk\u2019s purchase price <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"will_cramer_curse_strike_again_720\"\"will_cramer_curse_strike_again_720\"<\/div>\n
Will Cramer Curse Strike Again? <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"mercedes_benz_to_release_nft_collection_with_fingerprints_dao_720\"\"mercedes_benz_to_release_nft_collection_with_fingerprints_dao_720\"<\/div>\n
Mercedes Benz To Release NFT Collection With Fingerprints DAO <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

The Terra Luna Classic community seeking crypto exchange Binance to extend support to burn USTC monthly, along with the current LUNC burn mechanism. A new proposal seeks to ask Terra Luna Classic\u2019s largest LUNC burner Binance to also burn USTC. It will help the community and the Quant USTC developer team to repeg USTC to […]<\/p>\n","protected":false},"author":2,"featured_media":153662,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-156644","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/156644","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=156644"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/156644\/revisions"}],"predecessor-version":[{"id":156646,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/156644\/revisions\/156646"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/153662"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=156644"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=156644"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=156644"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}