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A TradingView glitch caused
Bitcoin
to drop from $100000 to $0 on the crypto exchange MEXC, sparking an uproar among the crypto community.
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The **LUNC (Terra Luna Classic) burn mechanism** was a community-driven effort to reduce its massive supply (over 6.5 trillion tokens after the May 2022 crash) and potentially increase scarcity/value. Here's how it worked: 1. **Transaction Tax Burn (The Primary Mechanism):** * **Implementation:** Proposal 3568 ("Tax Burn") implemented a **1.2% tax** on *all* on-chain transactions within the Terra Classic network. * **Process:** Whenever someone sent LUNC or USTC (TerraClassicUSD) in a transaction: * 1.2% of the amount sent was automatically *burned* (sent to a dead wallet address, permanently removed from circulation). * The remaining 98.8% reached the recipient. * **Goal:** This created constant, automatic deflation as people used the network. 2. **Voluntary/Market Burns:** * **Exchanges:** Major exchanges like **Binance** played a HUGE role. They implemented the tax on *off-chain* trades happening on their platforms and periodically burned the collected LUNC. Binance alone burned billions of LUNC monthly for over a year. * **Projects & dApps:** Projects building on Terra Classic often voluntarily burned portions of their revenue, fees, or token allocations. * **Community Members:** Individuals could (and still can) choose to send their LUNC directly to the official burn address (`terra1sk06e3dyexuq4shw77y3dsv480xv42mq73anxu`) to permanently remove them. * **Staking Rewards Conversion:** Some community initiatives involved converting staking rewards into burns. **Key Points & Evolution:** * **Initial Tax Rate:** Started at 1.2% (Oct 2022). * **Tax Reduction:** Proposal 11111 (effective Sept 2023) **reduced the tax burn rate to 0.5%** due to concerns it hindered practical use (like staking rewards being eaten by taxes) and ecosystem growth. This is the **current rate**. * **Burn Address:** The canonical burn address is `terra1sk06e3dyexuq4shw77y3dsv480xv42mq73anxu`. You can track burns on explorers like Terra Finder or Station.#IsraelIranConflict
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#BinanceHODLerHOME ⚠️⚠️⚠️BREAKING: ISRAEL IS OFFICIALLY ATTACKING IRAN. Market will dump.🔽🔽 Be careful and manage your assets wisely. Don't be greedy. Market already started dumping. ⚠️#TrumpNFT
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#BinanceHODLerHOME #Home جتے دی کوتی وتے آرن کلوتی 🙏 I lost here my 216 USDT now what can do here? 😁
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buy #Floki🔥🔥 why? Examples of Low-Price Coins on Binance (NOT Recommendations, Illustrative Only - HUGE RISK) **(Prices & MCap as of ~June 2025 - DYOR EXTENSIVELY!)** 1. **Shiba Inu (SHIB):** * **Price:** ~$0.00002 * **Circulating Supply:** ~589 Trillion * **$1 Market Cap:** $589 Trillion (Impossible - World GDP is ~$105T). * **Note:** Needs massive, sustained burns to *ever* approach $0.01, let alone $1. 2. **Floki Inu (FLOKI):** * **Price:** ~$0.0002 * **Circulating Supply:** ~9.5 Trillion * **$1 Market Cap:** $9.5 Trillion (Still vastly larger than BTC). * **Note:** More aggressive burns/utility than SHIB, but $1 remains astronomically improbable. 3. **PEPE (PEPE):** * **Price:** ~$0.00001 * **Circulating Supply:** ~420 Trillion * **$1 Market Cap:** $420 Trillion (Completely Impossible). * **Note:** Pure meme coin, minimal utility. Survives on hype. 4. **Potential Lower Cap Candidates (Higher Risk, Still $1 Unlikely):** that's time to buy #Tradersleague
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#MarketRebound #SOL next move. 🕯 Proper setup shared in premium.⭐️
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