Terra Luna Classic Hits 1 Trillion Staked, Awaits Binance’s Major Burn !!

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The Terra Luna Classic community awaits a significant LUNC burn by Binance to further reduce supply.Over 1 trillion LUNC is staked, and 124 billion have been burned, with more expected from the Tax2Gas mechanism.The Terra Luna Classic (LUNC) community is eagerly awaiting a significant LUNC burn by Binance, the prominent cryptocurrency exchange, as part of its ongoing LUNC burn mechanism. The anticipated burn is expected to further decrease the total LUNC supply, dropped to 6.78 trillion due to increased trading volumes and previous burns.

The delegators have significantly increased their stakes with Terra Luna Classic validators, pushing the total staked LUNC to over 1 trillion. This staking surge reflects strong community support and confidence in the project’s future. The current staking ratio of LUNC is at 14.83% showcasing the robust backing from validators and investors alike.

Binance has played a pivotal role in the LUNC burn initiative, having burned approximately 60.42 billion LUNC so far. This amount constitutes nearly 48.8% of the total LUNC burned by the community. The community as a whole has successfully burned around 124 billion LUNC, with 71 billion burned by sending them to a burning wallet and an additional 53 billion through on-chain burn mechanisms.

Last week alone, nearly 7 billion LUNC was burned as whales and investors transferred LUNC from centralized exchanges. These transactions generated total fees amounting to 8.34 billion LUNC, contributing to the overall burn effort. The significant increase in LUNC staked highlights the validators and community’s commitment to supporting the network

The Terra Luna Classic community is also looking forward to the implementation of the Tax2Gas mechanism, which is expected to boost LUNC burns, as reported by Crypto News Flash. This initiative, anticipated to be completed by July, aims to generate additional LUNC burns through transaction