Binance shows its support for Terra Classic with a strong announcement

Binance announced today that it is adding Terra Classic (LUNC) and TerraClassicUSD (USTC) to Binance Convert. This now allows users to exchange LUNC and USTC for BTC, BUSD, USDT and other tokens through Binance Covert at no cost.

Binance adds Terra Classic (LUNC) and TerraClassicUSD (USTC) to Convert

Binance, in an announcement on its site on September 12, announced additional support for Terra Classic (LUNC) and TerraClassicUSD (USTC), as it adds both Terra tokens to Binance Convert.

“Visit Binance on the website, click on “Trade“and select “Binance Convert” in the contextual menu. If you are on your mobile, just open your Binance application, touch “Trade“then select “Convert” in the top menu.”

Users can now use the Binance Convert service to convert LUNC and USTC into all supported crypto-currencies, such as Bitcoin (BTC), Binance USD (BUSD), Tether (USDT), etc., at no cost. Binance believes that adding LUNC support to its services will help increase the volume of trading on Binance. Also, extends support to the Terra community. In addition, Binance offers free transactions for Bitcoin (BTC) and Ethereum (ETH).

Recently, Binance announced that it would support the 1.2% fee for Terra Classic (LUNC) and TerraClassicUSD (USTC) via the Terra Classic network. However, the exchange will only bear the tax burn on on-chain activities such as deposits and withdrawals. After the community’s disappointment with the decision, Binance said it may review and discuss the off-chain tax burn for Terra Classic.

The Binance crypto-currency exchange currently accounts for nearly 35% of LUNC’s offering. The community needs Binance to offer a tax break on Terra Classic and USTC cash and margin trades.

Terra tokens soar by over 200%.

Terra tokens are experiencing massive trading volume as the community looks to revive them. In fact, Terra Classic (LUNC) and TerraClassicUSD (USTC) have entered the top 100 crypto-currencies on CoinMarketCap. LUNC’s price soared more than 200% in one week to a high of $0.00058.

Terra (LUNA) also witnessed an increase of over 200% in just 2 hours, leading the price to reach $7.06. LUNA recorded a daily trading volume of nearly $6 billion, nearly double that of LUNC.