LUNC price soared more than 25% after Binance CEO CZ announced the exchange’s plan for a burn mechanism for trading commissions on the token.
Within five minutes of Zhao’s announcement, the price of $LUNC shot up by more than 25%.
Do Kwon’s Continuing Legal Issues
In terms of price impact, the Binance announcement outweighed continuing negative news about Terraform Labs Co-Founder Do Kwon, who is accused of financial fraud and violating capital market laws in South Korea.
On Monday, South Korea law enforcement said Interpol had issued a “red notice” for the search and arrest of Kwon.
Binance positions itself as the world’s leading blockchain ecosystem and crypto-asset infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. The Binance platform aims to increase the freedom of money for users and features a comprehensive portfolio of crypto-asset products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization, and infrastructure solutions.
Where to find Binance:
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.