Stablecoin issuer Terra (LUNA) is seeing a massive price increase months after the protocol’s stablecoin depegged from the US dollar and lost over 99.9% of its value.
LUNA has since dipped and is moving for $5.73 at time of writing.
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Earlier this week, crypto exchange platform KuCoin announced it will support the 1.2% tax burn proposal of the LUNC community.
The burn proposal would raise taxes on users of the Terra blockchain to 1.2% as a means of burning tokens.
“This proposal initiates the tax for all on-chain transactions as first described in proposal