- The Terra Luna Classic community has reached a major milestone, burning over 400 billion LUNC tokens, with Binance contributing 736 million tokens in its 30th burn batch.
- Despite recent price drops, the burn campaign and increased trading volume indicate growing interest and hope for a future rally in LUNC’s value.
The Terra Luna Classic (LUNC) community is celebrating a major achievement as the total amount of LUNC tokens burned has reached a staggering 400 billion. This milestone comes with significant contributions, including over 700 million LUNC tokens burned by Binance, the world’s largest cryptocurrency exchange. But what does this milestone mean for the future of LUNC? Let’s take a closer look.
Binance’s Contribution: 736 Million LUNC Tokens Burned
On February 1, Binance completed its 30th batch of the LUNC burn mechanism, sending over 736 million LUNC tokens to the burn address. This marked a relatively lower burn compared to previous batches, yet it still made a notable impact. The exchange burned trading fees worth $87,923 between December 31 and January 30, contributing significantly to the reduction of LUNC’s circulating supply.
Since the launch of the burn initiative, Binance has burned a total of 70.85 billion LUNC tokens. The platform’s involvement has been instrumental in supporting the Terra Luna Classic community’s goal of decreasing the supply and improving the token’s value.
Community’s Role: A Combined Effort
While Binance plays a key role, the Terra Luna Classic community also deserves recognition. Through governance voting and support from validators and developers, the community has collectively reached the remarkable milestone of burning over 400 billion LUNC tokens. This burn campaign is viewed as a critical part of the effort to revive the Terra Luna Classic ecosystem.
Impact on LUNC and USTC Prices
Despite the significant burns, Terra Luna Classic (LUNC) is trading at approximately $0.00005964, reflecting a slight decrease of 0.16% from the previous close. The intraday high and low are $0.00007162 and $0.00005089, respectively.
TerraClassicUSD (USTC) is currently priced at $0.01077, marking a 0.23% decline from the previous close. The day’s trading range spans from a high of $0.01399 to a low of $0.00940.
Looking Ahead: Is There Hope for Terra Luna Classic?
The burning of 400 billion LUNC tokens is more than just a number—it’s a symbol of the ongoing dedication to Terra Luna Classic’s revival. With Binance’s commitment and the support of the community, there is still hope for LUNC to rise above the challenges it faces. While the price action may remain volatile, the collective efforts in burning tokens could lay the foundation for a brighter future for the project.