🔶 Binance Conducts Additional Burn of Terra Luna Classic Tokens
Binance, the leading exchange globally, initiates an extra burn of Terra Luna Classic tokens following its regular monthly LUNC burn. In its 21st phase, Binance burnt 1.4 billion LUNC tokens, surpassing a total of 59 billion LUNC tokens burned. Moreover, the Terra Luna Classic community has burnt over 113 billion LUNC tokens.
🔸 Binance and LUNC Burns
Binance executed the transfer of 56 billion Terra Luna Classic (LUNC) tokens to the burn address as part of its LUNC burn operations. These burns occurred post the monthly LUNC burn, mirroring previous months' trends. However, the cause behind the observed value decline during these burn operations remains ambiguous.
On May 1st, Binance moved 4.17 billion Terra Luna Classic (LUNC) tokens to the burn address, adding to the approximately 59.07 billion LUNC tokens burned from trading fees in LUNC spot and margin trading pairs.
Additionally, the surge in crypto prices led to increased trading volumes, with LUNC witnessing large trading volumes exceeding $100 million daily in March. Despite April's volume dipping to around $30 million, prices fluctuated between $0.0001 and $0.0002.
🔸 LUNC and USTC Price Analysis
Presently, Terra Luna Classic (LUNC) demonstrates a notable price surge, standing above $0.0001091 after a 6.5% increase. In the past 24 hours, LUNC recorded price levels ranging from $0.0001017 to $0.0001096, accompanied by a 28% surge in trading volume, reaching $27 million.
