#Binance Burned Over 4 Billion Tokens #TerraLunaClassic
$0.00013654
-10.59%
The post Binance Burns Over 4 Billion Terra Luna Classic Tokens appeared first on Coinpedia Fintech News
In a significant development for the cryptocurrency market, Binance, the world's largest crypto exchange, has announced the burn of 4.17 billion Terra Luna Classic (LUNC) tokens. This move underscores Binance's commitment to strengthening the Terra Luna Classic ecosystem and marks a milestone in the ongoing evolution of the crypto industry.
Binance Token Burn Event
The crypto community witnessed one of the largest token burn events today with Binance burning 4.17 billion Terra Luna Classic (LUNC) tokens, bringing the total number of tokens burned by the exchange to date to over 56 billion.
With the Terra Luna community previously pledging to burn large amounts of LUNC tokens to increase prices, Binance has shown continued support for the Terra ecosystem under the leadership of new CEO Richard Teng. Binance's active commitment to Terra Luna Classic includes not only token burns but also involvement in various initiatives to support the ecosystem.
According to the announcement, “The 20th version of the LUNC burning initiative by Binance removed approximately 350 million tokens, representing trading fees collected from February 29 to March 30.”
Following the token burn event, LUNC and USTC prices experienced significant increases with LUNC rising by 3% and trading at $0.000153. Nonetheless, it is visible from the overall trend that investor interest in the token has been renewed and in the long term, Terra Luna token will mark a good upward movement
