Burn

Terra Classic

Terra

Read

Notable

<ul>
 <li>Binance burns 5.5 billion LUNC, enhancing Terra ecosystem.</li>
 <li>Notable gains of up to 5% for Terra tokens following the strategic burn.</li>
 <li>Market anticipates impacts on Terra token ecosystem post-Binance burn event.</li>
</ul>
<p>Binance executed a <a href="https://cryptonewsland.com/how-a-90-burn-rate-could-propel-lunc-towards-its-0-01-goal/" target="_blank" rel="noopener noreferrer nofollow">substantial burn</a> of 3.90 billion <a href="https://coinmarketcap.com/currencies/terra-luna/" target="_blank" rel="noopener noreferrer nofollow">Terra Luna Classic (LUNC)</a> coins in December, leading to a remarkable surge in LUNC trade volume on the cryptocurrency exchange.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> JUST IN: <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> burns 5.57 billion <a href="https://twitter.com/hashtag/Terra?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Terra</a> <a href="https://twitter.com/hashtag/Luna?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Luna</a> Classic tokens contributing to a total of 93 billion <a href="https://twitter.com/search?q=%24LUNC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$LUNC</a> burned by the community as both <a href="https://twitter.com/search?q=%24LUNC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$LUNC</a> and <a href="https://twitter.com/search?q=%24USTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$USTC</a> have experienced a 7% increase. <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"></p>— CoinEcho (@mycoinecho) <a href="https://twitter.com/mycoinecho/status/1742131457424781590?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 2, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>In the latest development, the world’s largest crypto exchange, Binance, sent 5.5 billion Terra Luna Classic (LUNC) to the burn address in the 17th batch of the LUNC burn mechanism.</p>
<p>With this recent burn, Binance has now eliminated over 49 billion Terra Classic tokens derived from trading fees on LUNC spot and margin trading pairs. The introduction of a USTC perpetual contract and new USTC and LUNC trading pairs by Binance and other cryptocurrency exchanges has significantly boosted the token’s trading volume.&nbsp;</p>
<p>The burn event has sparked a positive momentum in the Terra Classic ecosystem, resulting in notable gains of up to 5% for its tokens, including LUNA, LUNC, and USTC in today’s trading.&nbsp;</p>
<p>This strategic move by <a href="https://www.binance.com/en" target="_blank" rel="noopener noreferrer nofollow">Binance</a>, involving <a href="https://cryptonewsland.com/how-lunc-is-pushing-boundaries-with-its-potential-to-reach-0-00009145/" target="_blank" rel="noopener noreferrer nofollow">significant token burns</a>, showcases the exchange’s commitment to maintaining a balance in the Terra ecosystem and enhancing the value proposition of Terra-based tokens.&nbsp;</p>
<p>Investors and traders are closely observing the market dynamics following this burn event, anticipating potential impacts on the Terra token ecosystem in the coming days. The synergy of new trading pairs, a perpetual contract, and token burns illustrates the dynamic nature of the Terra ecosystem and its responsiveness to market trends and demands.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/terra-luna-classic-validator-on-a-mission-to-revive-lunc-value/" rel="noopener noreferrer nofollow">Terra Luna Classic Validator on a Mission to Revive LUNC Value</a></li>
 <li><a href="https://cryptonewsland.com/terra-luna-classic-may-dip-more-despite-131-7-day-pump/" rel="noopener noreferrer nofollow">Terra Luna Classic May Dip More Despite 131% 7-Day Pump</a></li>
 <li><a href="https://cryptonewsland.com/luna-classic-rallies-hard-in-sep-what-is-the-cause/" rel="noopener noreferrer nofollow">Luna Classic Rallies Hard in Sep, What Is the Cause?</a></li>
 <li><a href="https://cryptonewsland.com/terra-classic-regains-1b-market-cap-after-25-lunc-rally/" rel="noopener noreferrer nofollow">Terra Classic Regains $1B Market Cap After 25% LUNC Rally</a></li>
 <li><a href="https://cryptonewsland.com/how-a-90-burn-rate-could-propel-lunc-towards-its-0-01-goal/" rel="noopener noreferrer nofollow">How a 90% Burn Rate Could Propel LUNC Towards Its $0.01 Goal</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/recent-terra-luna-classic-burn-triggers-massive-trading-surge/" rel="noopener noreferrer nofollow">Recent Terra Luna Classic Burn Triggers Massive Trading Surge</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Recent Terra Luna Classic Burn Triggers Massive Trading Surge

Crypto News Land

Other articles published on Jan 3, 2024

MVRV Data Points Potential Bitcoin Price Targets of $52,000 and $70,000

Bitcoin Surpasses $50,000 This Week! Matrixport Offers Reassurance

Crypto Daily Roundup 03 Jan: Market Resets as Daily Gains Disappear

Ripple making regulatory progress; Avalanche and Borroe Finance popularity rising

3 Tokens for a Quick 3x This January 2024

Etherscan acquires Solana blockchain explorer Solscan

Join our free newsletter for daily crypto updates!