Terra Classic

Terra

<ul>
 <li>The burn campaign for Terra Luna Classic has reached around 98 billion LUNC.</li>
 <li>The 100 billion LUNC goal is already within reach of the burn campaign.</li>
</ul>
In the 18th batch of the LUNC burn mechanism, crypto exchange <a href="https://thenewscrypto.com/binance-freezes-4-2m-in-xrp-linked-to-ripple-co-founders-wallet-hack/" target="_blank" rel="noopener noreferrer nofollow">Binance</a>, burnt 2.1 billion Terra Luna Classic (LUNC) tokens. With almost 50 billion LUNC burnt so far, the crypto exchange accounts for 52.4% of all tokens burned by the Terra Luna Classic community.
The Terra Luna Classic community has banded together to implement <a href="https://thenewscrypto.com/terra-luna-classic-lunc-burn-hits-95-billion-threshold/" target="_blank" rel="noopener noreferrer nofollow">LUNC</a> burn, a strategy to eliminate LUNC tokens from circulation. The 100 billion LUNC goal is already within reach of the burn campaign.
<h3 class="wp-block-heading" id="h-combined-effort-of-community">Combined Effort of Community</h3>
As per the transaction that took place on January 1, Binance delivered 2.1 billion Terra Luna Classic (LUNC) tokens to the burn address.
Specifically, from December 31st to January 30th, the LUNC burn mechanism was in its 18th batch. Trading costs on Binance’s LUNC spot and margin trading pairs have brought the LUNC burn total to 51.27 billion Terra Classic tokens, as of the most recent burn.
Following a dramatic rise in the amount of LUNC trades on the cryptocurrency market, the burn rate accelerated dramatically. A USTC perpetual contract and new <a href="https://coinmarketcap.com/currencies/terrausd/" rel="noopener noreferrer nofollow">UST</a><a href="https://coinmarketcap.com/currencies/terrausd/" target="_blank" rel="noopener noreferrer nofollow">C</a> and LUNC trading pairs were introduced by Binance and other cryptocurrency exchanges, which greatly enhanced the trading of the tokens.
The burn campaign for Terra Luna Classic has reached 98 billion LUNC, thanks to the combined efforts of crypto exchanges, <a href="https://www.ledger.com/academy/what-is-a-blockchain-validator" target="_blank" rel="noopener noreferrer nofollow">validators</a>, projects, and community members. The average weekly burn rate for the community is 600 million LUNC.
Highlighted Crypto News Today:
<a href="https://thenewscrypto.com/cathie-wood-led-ark-invest-acquires-more-crypto-related-stocks/" target="_blank" rel="noopener noreferrer nofollow">Cathie Wood Led Ark Invest Acquires More Crypto-Related Stocks</a>

Binance Burns 2.1B Terra Luna Classic (LUNC) Tokens in 18th Batch

Table of Contents

TheNewsCrypto

Other articles published on Feb 4, 2024

Steadfast Bitcoin Holders Maintain Positions Despite Market Volatility

Bitcoin Price Prediction as Emerging Pattern Hints 12% Surge Ahead

FTX Set to Drop 8% Stake in AI Firm Anthropic: Filing

Roblox Crypto: A Challenging New Year for the RBLX Bulls

Best Meme Coins to Buy Now With 100x Potential: Pepe (PEPE), FLOKI (FLOKI), and NuggetRush (NUGX)

Next 10X Potential Cloud Mining Crypto Presale Project Raises Over $10 Million

Join our free newsletter for daily crypto updates!