Why is $LUNC pumping?

Here's a 🧵 with my explanation on why I think the classic $LUNA is pumping 👇 Image
The Terra Classic community suggested a recent proposal to ‘BURN’ 1.2% of all $LUNC transactions. This proposal has been successfully passed with an overwhelming 83% ‘Yes’ vote.

I believe, because of this, the pump is happening.
Burning coins essentially takes them out of circulation, which reduces the supply. This can increase the value of the remaining coins or tokens.
Major centralized exchanges have accepted the 1.2% tax burn proposal, including Binance and many others.
The proposal says:
“Distribute 50% transaction fees to the community pool (35% to be burned via monthly community pool proposals; 10% airdropped to ecosystem devs, 5% retained for core Terra Classic development)
and increase ‘Base Proposer’ and ‘Bonus Proposer’ reward from 0.01 and 0.04 to 0.03 and 0.12 respectively.”

Mirror ( $MIR ) and Anchor ( $ANC ) protocols are part of the Terra Luna ecosystem, that's why we are parallelly seeing a pump in these two.
As always, though, be extremely careful.

The proposal is probably one of the reasons why it's pumping, but it doesn't mean it wont go down.

These coins are easy to make money WITH, but also easy to LOSE money with.

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