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The world’s largest <a href="https://coingape.com/blog/binance-exchange-review/" target="_blank" rel="noopener noreferrer nofollow">crypto exchange Binance</a> burned 5.57 billion Terra Luna Classic (LUNC) tokens in the 17th batch of the LUNC burn mechanism. The total LUNC burned by the crypto exchange to date reaches more than 49 billion, 53% of the total tokens burned by the Terra Luna Classic community.
Terra Classic ecosystem tokens LUNC and USTC prices jumped over 7% after the latest LUNC burn by Binance, starting the year with bullish sentiment.
<h2 id="binance-sends-5-57-b-terra-luna-classic-lunc-to-burn-address">Binance Sends 5.57 B Terra Luna Classic (LUNC) To Burn Address</h2>
Crypto exchange Binance sent 5.57 billion Terra Luna Classic (LUNC) tokens to the burn address, as per the <a href="https://finder.terraclassic.community/classic/tx/95842B928ABDF5B175EDD2CBB6E24628C37696C855389FF55AF2DC4858572F2D" target="_blank" rel="noopener noreferrer nofollow">transaction</a> on January 1.
Notably, the 17th batch of the LUNC burn mechanism was for the period November 30 to December 30. With the latest burn, Binance has burned 49.17 billion Terra Classic tokens from trading fees on LUNC spot and margin trading pairs. After the latest LUNC burn by Binance, the community has burned nearly 92.5 billion&nbsp;LUNC tokens.
<img decoding="async" class="aligncenter wp-image-171912" src="https://coingape.com/wp-content/uploads/2024/01/screenshot-terraclassic.stakebin.io-2024.01.02-12_17_57.png" alt="LUNC burn" width="729" height="403" srcset="https://coingape.com/wp-content/uploads/2024/01/screenshot-terraclassic.stakebin.io-2024.01.02-12_17_57.png 1193w, https://coingape.com/wp-content/uploads/2024/01/screenshot-terraclassic.stakebin.io-2024.01.02-12_17_57-300x166.png 300w, https://coingape.com/wp-content/uploads/2024/01/screenshot-terraclassic.stakebin.io-2024.01.02-12_17_57-768x425.png 768w, https://coingape.com/wp-content/uploads/2024/01/screenshot-terraclassic.stakebin.io-2024.01.02-12_17_57-150x83.png 150w" sizes="(max-width: 729px) 100vw, 729px">
In December, Binance <a href="https://coingape.com/binance-burns-4-billion-terra-luna-classic-lunc/" target="_blank" rel="noopener noreferrer nofollow">burned</a> 3.90 billion Terra Luna Classic (LUNC) tokens. The burn rate significantly increased after a massive jump in LUNC trading volume on the crypto exchange. Binance and other crypto exchanges <a href="https://coingape.com/binance-lists-lunc-iota-other-spot-trading-pairs-terra-classic-price-rallies/" target="_blank" rel="noopener noreferrer nofollow">launched</a> a USTC perpetual contract, and new USTC and LUNC trading pairs, which contributed massively to the trading of the tokens.
Read More: <a href="https://coingape.com/terra-classic-development-proposal-genuine-labs-officially-passed/" target="_blank" rel="noopener noreferrer nofollow">Terra Classic Development Proposal By Genuine Labs Officially Passed</a>
<h2 id="lunc-and-ustc-prices-gains-upside-momentum">LUNC and USTC Prices Gains Upside Momentum</h2>
Terra Luna Classic (LUNC) and USTC prices rise amid a broader market rally and Binance LUNC burn mechanism. Traders need to keep an eye on a possible pullback in prices due to potential profit booking in the next few days.
<a href="https://coingape.com/price/terra-luna-classic/" target="_blank" rel="noopener noreferrer nofollow">LUNC price</a> jumped 8% in the last 24 hours, with the price currently trading at $0.000145. The 24-hour low and high are $0.000137 and $0.000147, respectively. However, the trading volume has decreased by 45% in the last 24 hours.
Meanwhile, <a href="https://coingape.com/price/terraclassicusd" target="_blank" rel="noopener noreferrer nofollow">USTC price</a> climbed 7%, with the price currently trading at $0.0337. The 24-hour low and high are $0.0321 and $0.0341, respectively.
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The post <a href="https://coingape.com/binance-burns-5-57-billion-terra-luna-classic-lunc-and-ustc-prices-rise-over-7/" rel="noopener noreferrer nofollow">Binance Burns 5.57 Billion Terra Luna Classic, LUNC And USTC Prices Rise Over 7%</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Binance Burns 5.57 Billion Terra Luna Classic, LUNC And USTC Prices Rise Over 7%

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