Investors are taking action to get LUNC listed on Coinbase.
As the burning of Terra Luna Classic (LUNC) continues, crypto holders are still looking for new ways to burn more LUNC. One of them is calling for exchanges to support LUNC.
Currently, many leading cryptocurrency trading platforms do not allow LUNC trading, due to its controversial nature.
Despite this, holders are still making efforts to get LUNC listed on Coinbase. To date, over 200,000 tweets have been made calling for the San Francisco-based exchange to accept LUNC.
According to data from Coingecko, Coinbase is the third largest crypto exchange in the world. LUNC holders believe that listing the coin on a popular exchange like Coinbase will accelerate the token burn.
Coinbase has yet to respond to requests from LUNC holders. However, many investors are confident that this exchange will have no choice but to list LUNC for trading while applying a 1.2% tax burn on each LUNC transaction.
Token burning reduces the supply of crypto. If the demand for a token remains the same, then the price people are willing to pay will increase.
It is no coincidence that many popular crypto projects today like Shiba Inu or BNB incorporate a token-burning mechanism into their projects. And for the victims of the Terra ecosystem collapse, burning LUNC is the best way to revive the coin’s value from the ashes.