Terra investors are making key moves to have LUNC listed on Coinbase.
As Terra Luna Classic burns continue to intensify, cryptocurrency holders are still looking for new ways to incinerate more LUNC. Part of the way to make this possible is to call on more cryptocurrency exchanges to add support for LUNC trading and implement the 1.2% tax burn recently launched on the Terra classic network.
Leading cryptocurrency trading platforms – Coinbase and Robinhood – are yet to enable support for LUNC trading due to the crypto asset’s controversial past.
Terra Investors Want LUNC Listed on Coinbase
While these two crypto trading platforms have many registered users, LUNC holders focus more on getting the cryptocurrency listed on the San Francisco-based exchange, Coinbase.
According to data from Coingecko, Coinbase is the third-largest cryptocurrency exchange, with a 24-hour volume of $1,025,605,577 ($1.02 billion). Following Coinbase’s features and popularity, LUNC holders believe getting the cryptocurrency listed on the exchange will accelerate the burn effort.
Based on this, the Terra community has been calling on Coinbase to list the cryptocurrency to contribute to the ongoing burns of the coin. So far, over 200,000 tweets have been made in this regard.
The idea is to get the attention of Coinbase executives led by Brian Armstrong, the exchange’s CEO and co-founder, and possibly have LUNC listed for trading on the platform.
The Coinbase team is yet to respond to LUNC holders’ requests. However, Terra investors are confident that these tweets would soon get to the point that the Coinbase team would have no choice but to list LUNC for trading and also implement the 1.2% tax burn.
LUNC Burns Soar
The Terra Classic community has continued to make significant moves to accelerate the burns of Luna Classic (LUNC). For victims of the Terra ecosystem collapse, burning a large percentage of LUNC’s total supply is the best way to revive the value of the cryptocurrency from the ashes.
As reported, the Terra community has implemented a 1.2% tax burn for all LUNC on-chain transactions as part of an effort to reduce the token’s total supply. So far, several cryptocurrency exchanges, including Binance, have also implemented the 1.2% tax burn on their respective trading platforms.