💥 Binance LUNC Burn Spikes Over 59 Billion After Latest Terra Classic Tokens Burn
Binance's total LUNC burn rises over 59 billion after the latest Terra Luna Classic tokens burn. LUNC and USTC prices to recover as a result of buy the dip?
🔺 Binance burned additional Terra Luna Classic (LUNC) tokens this week.
🔺 The latest LUNC burn is not part of Binance's monthly LUNC burn mechanism.
🔺 Total LUNC burned by the crypto exchange to date has now surpassed 59.07 billion.
Crypto exchange Binance burned another pack of Terra Luna Classic (LUNC) tokens this week, as per a transaction revealed by LUNC Burn Tracker. With the latest burn by Binance, the total LUNC burned by the crypto exchange has reached over 59 billion.
🔸 Binance Burns Additional LUNC Tokens
Crypto exchange Binance burns additional Terra Luna Classic (LUNC) tokens every month, which are not part of Binance’s monthly LUNC burn mechanism. Binance sent additional LUNC tokens to the burn wallet, as per a transaction on May 23.
Binance burned 1.4 billion Terra Classic tokens in the 21st batch of LUNC burn mechanism in early May. After the latest burn by Binance, the total LUNC burned by the crypto exchange to date has now surpassed 59.07 billion, accounting for 51.9% of total LUNC burned by the community.
The total LUNC tokens burned by the Terra Luna Classic community has reached over 113.71 billion. Binance has continued supporting the community for Terra Luna Classic revival since 2022 via its monthly LUNC burn mechanism.
🔸 LUNC and USTC Price Performance Amid Market-Wide Selloff
Crypto market saw broader retracements in the US hours as whales and investors sold their holdings, considering a similar selloff seen immediately after the spot Bitcoin ETF approval by the SEC in January.
LUNC price fell 3% in the last 24 hours, pared most gains this week. The price is currently trading at $0.0001131, with a 24-hour low and high of $0.0001094 and $0.0001179, respectively. Furthermore, trading volume has decreased after a massive 231% jump on Wednesday.
