Terra Classic Sees Major Supply Reduction as Binance Burns 1.7B LUNC
The latest LUNC burn of 1.7 billion tokens from Binance significantly reduces the #TerraClassic supply, aligning with increased trading volume.
Binance has completed another significant LUNC (Luna Classic) burn to start in July. The burn event led to a substantial decrease in the total LUNC supply, as highlighted by recent charts posted by community figure Rexyz.
The burn activity has garnered appreciation towards Binance founder and former CEO #changpengzhao , as well as current CEO #RichardTeng .
The first image posted by Rexyz showcases the total LUNC supply over a 4-hour period. The supply stood at 6,781,807,335,479 LUNC, with a notable decrease of 1,726,507,904 $LUNC in the latest candlestick.
This sharp drop within a short time frame indicates a significant burn event, likely involving a large transaction or a series of #transactions that reduced the total supply.
