Recall that on the early of May 2022 their was a proposal of tax burning of 1.2% which is presume to go live on Sep 20th, the 1.2% tax proposal will see users pay a 1.2% fee on all on-chain transactions, including wallet interactions and smart contracts. This fee is then sent to the Terra-provided burn wallet to reduce the LUNC supply.
On chain transactions are not parts of what people trade on centralized exchanges. However, assume wallet interactions and smart contract executions are parts of that and Binance rejected to join the burn process. People in short term have valid reasons to worry because trading volume on Binance in general is very high and very dominating for Luna Classic trading volume.
Think further, the news is released very on time after Luna Classic has about x6 increase. Do you think will Luna Classic recover to $0.0006 and has another x6 rise from there when Binance suddenly makes an announcement to support Luna Classic burn?
Think of it many months from now