Binance Burns 1.2 Billion LUNC, Boosting Terra Classic Community Optimism

  • Binance has burned a whopping 1.2 billion LUNC tokens.

  • Binance only burns two tokens: LUNC and BNB.

  • LUNC surged 4.6% in the past 24 hours.

Binance, the world’s leading crypto exchange by trading volume, has burned 1.2 billion LUNC tokens, further reducing the circulating supply. This move has been met with enthusiasm from the Terra Classic community, who anticipate a positive impact on LUNC’s price.

Binance’s burn mechanism focused solely on its native BNB token and LUNC, refraining from participating in similar events for other cryptocurrencies. Historically, significantly reducing a cryptocurrency’s circulating supply often leads to bullish price action.

🚨Binance burns ~1.2 billion $LUNC 🔥🔥🔥

Just a reminder the crypto biggest exchange in the #Binance only burns their own coin #BNB and #LUNC, thanks for supporting #LunaClassic, with your support hope LUNC can go back to its glory days! 🙏 pic.twitter.com/S14t2JOMHb

— WSB Trader Rocko 🚀🚀🚀 (@traderrocko) September 2, 2024

As the Terra community anticipates LUNC’s price trajectory to turn bullish soon, according to the data from CoinMarketCap, LUNC has surged 4.62% in the past 24 hours and the cryptocurrency is …

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#BNB