LUNC Soars on Burn Narrative and Tax Hike Proposal

Terra Classic (LUNC) experienced a 3.45% price increase over the last 5 hours, driven by supply-burn narratives and a pending tax increase.

A recent burn event saw Binance remove approximately 280 million LUNC from circulation, sparking renewed interest in the asset. The Terra Classic community highlighted this move as part of a broader effort to reduce supply through burns and on-chain tax mechanisms.

A governance proposal to raise the effective tax on transactions for LUNC and USTC to 1.5% is also gaining traction. If implemented, this change would accelerate supply reduction and could contribute to further price gains.