The Terra Classic community expressed its gratitude via a post on X to Binance, the world’s leading cryptocurrency exchange, for burning 1.7 billion LUNC tokens. This recent burn, which occurred on July 1, 2024, marks the 23rd batch of Binance’s ongoing burn program for LUNC recovery.
The community’s appreciation was conveyed through a tweet directed at Binance, CEO Changpeng Zhao (“CZ”), and Richard Teng, CEO of Binance Labs. The tweet acknowledged Binance’s commitment to the revival of the Terra Classic ecosystem.
This burn initiative is a crucial aspect of the Terra Classic community’s efforts to reduce the circulating supply of LUNC tokens. By permanently removing tokens from circulation, the burn program aims to increase the scarcity of LUNC, potentially leading to a rise in its price over time.
The recent burn of 1.7 billion LUNC adds to the already significant contribution made by Binance, as they have burned nearly 62 billion LUNC tokens to date. This figure, when combined with the efforts of other members of the Terra Classic community, brings the total number of burned LUNC tokens to over 125 billion.
The community’s focus on reducing supply is a response to the LUNC implosion of May 2022. The Terra ecosystem experienced a financial crisis that resulted in the collapse of the TerraUSD (USTC) stablecoin and a subsequent plunge in the value of LUNC.
The ongoing burn program represents a collaborative effort between Binance and the Terra Classic community to restore stability and value to the LUNC token. This initiative is expected to continue, with additional support potentially coming from the implementation of Tax2Gas, a feature anticipated to launch this month.
Tax2Gas is a proposed mechanism within the Terra Classic network to redirect a portion of the transaction taxes collected on the blockchain toward further LUNC burns. This feature, if implemented, could significantly accelerate the rate at which LUNC tokens are removed from circulation.
The Terra Classic community’s positive response to Binance’s burn program highlights the importance of collaboration within the cryptocurrency industry. By working together, exchanges and communities can develop solutions to address challenges and foster the growth of specific digital assets.
The continued success of the LUNC burn initiative remains to be seen. However, the collaborative efforts of Binance and the Terra Classic community represent a significant step towards reviving the LUNC token and potentially restoring confidence in the Terra Classic ecosystem.
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#BinanceBurn #LUNC

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Great news, Terra Classic community! The latest #LUNC burns from Binance have just been tallied, and the numbers are impressive!
This September, Binance has incinerated a whopping 1,142,098,248 $LUNC ! 🌟 This monumental effort marks over two years of consistent burns by Binance, bringing the total amount of $LUNC burned to nearly 65 billion tokens. That's dedication to stability and value for the Terra Classic ecosystem!
👏 A massive shoutout to everyone in the community! Your patience and precision have been instrumental in this journey. Together, we're making a difference, one burn at a time.
Stay tuned for more updates and keep those spirits high!
#TerraClassic #USTC... #CryptoCommunity #BinanceBurn #Write2Earn! $LUNC

The $LUNC burn is just around the corner, and while it has many in the crypto community buzzing, let's dive into what this burn really means. On October 31st, approximately 250 billion LUNC tokens will be burned—yes, a significant event, but with $LUNC 's colossal circulating supply sitting at around 6 trillion, is it enough to send shockwaves through the market?
📉 Breaking Down the Numbers: This burn represents just 3-4% of the total supply—a solid reduction, yet maybe not quite the game-changer many had in mind. Why? With such a vast supply, chipping away at 250 billion tokens might not deliver the rocket-fuel effect to send prices soaring overnight.
🚀 Supply Cuts Are Vital—But Are They the Magic Bullet? Supply reduction undeniably has its place. Less supply often brings scarcity, a key driver for potential price gains. Yet, for a token like $LUNC , with trillions in circulation, the market may need further burns or additional catalysts to ignite a sustained rally.
👀 A Call for Community Action This burn, however, is just one of many steps forward, and it’s a reminder of the ongoing commitment to rebuilding and reimagining $LUNC . Maybe it’s not about “one and done,” but a journey of multiple burns, staking incentives, and community backing to spark real momentum.
Is this the first domino? Or will we need more? Let’s dive into the debate! What’s your take—will this burn be the spark that ignites $LUNC 's future, or just a small step in the grand scheme? Let’s keep the conversation going—drop your thoughts below! 👇
#LUNC #USTC #Terra #BinanceBurn #Crypto
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