 news on delisting, burning mechanism and inclusion of three new wallets by Binance on the chain's whitelist drawn){kind=link}
Key Insights :
- LUNC burns exceeded 409 billion units while USTC burns reached 5,184,365,159 units.
- Binance exchange’s request to add 3 new wallets to the whitelist on the Terra Classic chain was accepted by the votes of LUNC validators.
Terra Classic chain (LUNC) news on delisting, burning mechanism and inclusion of three new wallets by Binance on the chain’s whitelist drawn mixed sentiments.
LUNC News: OKX to Delist LUNC Pair Among Others
The loss-making trading pairs, which would include the LUNC/USDC pair, will be delisted from margin trading at OKX.
As for these pairs, borrowing was stopped on May 7, 2025, at 11:00 UTC while the full delisting is expected to take place within the UTC time between 06:00 and 10:00 of May 12, 2025.
Among the affected pairs, dropping LUNC/USDC pair raised eyebrows because of its significance to Terra Classic’s ongoing attempt at relaying market support.
It is possible that this would lower LUNC liquidity; however, it could affect the trading volume in other available pairs.
Burning LUNC and USTC
Both TERRA Classic chains held firm supply decline through huge LUNC burns of more than 409 billion units and USTC burns of 5.18 billion units.
Ongoing supply decline is a sign of long-term price stability and probably upward market action in the event of increased demand.
The recent period revealed a substantial reduction in the rate of burning operations. The past week saw about 658 Million LUNC News and 124 USTC burned.
Market inactivity and broader declines throughout the crypto asset market seemed to reduce momentum within the Terra Classic ecosystem.
New token minting cessation kept both LUNC and USTC assets within a deflationary state which benefits long-term investors.
The price recovery potential remains limited until market demand returns or development work happens because of the burn mechanism.
Increased trading volume and blockchain interaction would strengthen bullish trends triggered by reduced supply in the market.
Price recovery from market stagnation could become limited when deflation operates in isolation across long periods of market inactivity.
Also key CEXs like MEXC, KuCoin, CoinInn, Binance, Gate.io, and LBank continued to partially support the LUNC 1.2% tax burn movement.
MEXC and KuCoin and CoinInn perform this tax implementation on-chain and off-chain to increase LUNC’s deflationary qualities.
Binance and Gate.io and LBank enforce on-chain tax application during deposit and withdrawal times but do not activate the tax during exchange trading activities.
The burning mechanism’s overall effectiveness is limited by consumer behavior that mostly takes place outside of the blockchain.
The current supply reduction initiative will benefit LUNC in the long term but the price recovery is likely to require greater on-chain trading volume or expanded burn support across trading systems.
After the 2022 collapse LUNC failed to build significant upward movement because exchanges lack widespread support and the platform lacks practical use cases which may prolong price stagnation.
Trading growth in supported burn zones could accelerate deflationary pressure which might bring back bullish investor interest.
Binance Adds 3 New Wallets to LUNC Chain
Recently, the Terraclassic community voted on the proposed changes on Binance to whitelist three more. Addresses to be exempted from the burn tax.
It enacted by 99.14% majority votes and the wallets. Which are exempted from the burn tax, possess more than 300 billion LUNC.
Consequently, it would not attract the burn tax of 1.2% of their value when traded on the blockchain.
This may indicate potential further restructuring of the exchange or internal move by Binance. Or a general blueprint for engaging more with the Terra Classic ecosystem.
It might also temporarily decrease burn volumes whereas long term implications. May result in bigger transactions flow and increased liquidity if Binance will use the listed wallets more actively.
Despite such evidences may not be conclusive to establish accumulation, the appearance of such significant quantity of LUNCs under. Binance management may uphold its position as a major player.