Crypto: Binance Convert integrates two new tokens to support Terra

Tue 13 Sep 2022 ▪ 1:00 p.m. ▪
3
min read – by
Cédrick Aimé GUELANG OFALABEN

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 restrictions from the exchange regarding the support of part of the taxes for LUNC and USTC.

Binance Convert integrates LUNA 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 disseminated: “Go to the Binance website, click on “Trade“, and select “Binance Convert” in the context menu. If you are on mobile, just open your Binance app, click on “Trade“, then select “Convert ” in 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 require 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, he wishes to develop his support for the Terra community.

This decision also follows the platform’s announcement of its desire 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 theburn taxon 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 the Terra Classic.

Terra tokens are up 200%

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 recorded a jump of almost 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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Cédrick Aimé GUELANG OFALABEN avatar
Cédrick Aimé GUELANG OFALABEN

Doctoral student in financial law and experienced SEO web editor, Cédrick Aimé is passionate about cryptocurrencies, trading, etc. He naturally participates thanks to his articles in the daily blockchain revolution for a better democratization of DeFi.

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Crypto: Binance Convert integrates two new tokens to support Terra


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