Binance Burns 1 Billion LUNC Tokens, What’s Next For Terra Luna Classic?
The world’s largest crypto exchange Binance burned 1.048 billion Terra Luna Classic tokens in the 27th batch of its LUNC burn mechanism. With the latest Binance LUNC burn, the total tokens burned by the Terra Classic community reached almost 137 billion.
The burn has sparked bullish speculation in the community. Will LUNC price recover to 0.0001 again this week for further rally amid massive token burn by Terraform Labs?
Binance Sends 1 Bln Terra Luna Classic (LUNC) to Burn Address
The Terra Luna Classic community saw 1.048 billion LUNC tokens burned by crypto exchange Binance, as per the burn transaction on November 1. Also, the burn transaction saw tax costs of 5.2 million LUNC.
In the 27th batch of the LUNC burn mechanism, the crypto exchange burned $95,073.99 in trading fees for the period between September 30 to October 30. The total LUNC burned by one of the top crypto exchanges has now reached nearly 66.66 billion LUNC tokens.
It’s important to note that Binance burned 1.14 billion LUNC in the previous batch of the monthly burn mechanism. The exchange burns 50% of LUNC spot and margin trading fees monthly to support the Terra Luna Classic community’s revival efforts.
Binance Sends 1 Bln Terra Luna Classic (LUNC) to Burn Address
The Terra Luna Classic community saw 1.048 billion LUNC tokens burned by crypto exchange Binance, as per the burn transaction on November 1. Also, the burn transaction saw tax costs of 5.2 million LUNC.
In the 27th batch of the LUNC burn mechanism, the crypto exchange burned $95,073.99 in trading fees for the period between September 30 to October 30. The total LUNC burned by one of the top crypto exchanges has now reached nearly 66.66 billion LUNC tokens.
