Burn

Terra

The largest cryptocurrency exchange globally, confirmed an extra burn of Terra Luna Classic (LUNC) tokens, surpassing 59 billion tokens, as reported by LUNC Burn Tracker on May 23.&nbsp; 
Binance regularly burns LUNC tokens, separate from its monthly mechanism. In early May, they <a href="https://finder.terra.money/classic/tx/B9059A3668F6758E18AC6FA9122980780780093B42890DB6F0FB9B5D0B1231C5" target="_blank" rel="noreferrer noopener nofollow">burned</a> 1.4 billion tokens, now totaling 59.07 billion, which is 51.9% of the community’s total burned tokens at 113.71 billion. 
The broader crypto market saw a selloff, affecting LUNC and USTC prices. LUNC <a href="https://coinmarketcap.com/currencies/terra-luna/" target="_blank" rel="noreferrer noopener nofollow">dropped</a> 2.45% in 24 hours to $0.0001134, while USTC fell 3.66% to $0.02274. Trading volumes also fluctuated, notably increasing by 231% recently. 
Investors responded to market shifts, mirroring past selloffs after SEC approvals, highlighting Binance’s continuous backing of Terra Luna Classic since 2022 as a sign of its commitment to community resurgence.&nbsp; 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/05/24/binance-executive-collapses-in-court-amid-money-laundering/" target="_blank" rel="noreferrer noopener">Binance Executive Collapses in Court Amid Money Laundering</a> 
</blockquote>

Binance Burns Over $59B Terra Luna Classic (LUNC) Tokens

The Crypto Times

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