HomeBinanceBinance Conducts Monthly Burn of Terra Luna Classic (LUNC) Tokens, Further Reducing...

Binance Conducts Monthly Burn of Terra Luna Classic (LUNC) Tokens, Further Reducing Supply

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Binance Burns Additional Terra Luna Classic Tokens, Total LUNC Burned Surpasses 59 Billion

Binance Burns Over 1.4 Billion Terra Luna Classic Tokens in Latest LUNC Burn

In a recent development, the world’s largest crypto exchange, Binance, has burned an additional 1.4 billion Terra Luna Classic (LUNC) tokens in its 21st batch of the LUNC burn mechanism. This brings the total number of LUNC tokens burned by Binance to over 59 billion, showing the exchange’s continued support for the Terra Luna Classic community.

The total number of LUNC tokens burned by the Terra Luna Classic community has now surpassed 113 billion, highlighting the strong commitment of both Binance and the community towards the revival of the project since 2022.

Binance sent 56,911 LUNC tokens to the burn address in a recent transaction, following the monthly LUNC burn. This comes after Binance burned 4.17 billion LUNC tokens on May 1, bringing the total number of tokens burned from trading fees on LUNC spot and margin trading pairs to nearly 59.07 billion.

Despite a decline in overall trading volume due to the market-wide drop in crypto prices, LUNC has seen a recent surge in trading volumes and prices amid the broader market recovery. The price of LUNC has jumped over 6% in the last 24 hours, currently trading at $0.0001092, with a predicted target price of $0.0005 according to CoinGape Markets.

Similarly, the price of USTC, another token in the Terra Luna Classic ecosystem, has also climbed 5% in the last 24 hours, trading at $0.0222. The increase in trading volume by 28% indicates renewed investor interest in the project.

Overall, the latest burn by Binance and the positive price movements of LUNC and USTC signal a growing optimism in the Terra Luna Classic community and the broader crypto market. Investors and traders are closely watching these developments as they navigate the evolving landscape of digital assets.

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