### ๐ Binance Burns 1.7 Billion Terra Luna Classic (LUNC): Whatโs Ahead?
The worldโs largest crypto exchange, Binance, has made a significant move by burning 1.7 billion Terra Luna Classic (LUNC) tokens in its latest burn transaction on Monday. This brings Binance's total LUNC burns to nearly 62 billion to date. Let's dive into the details:
#### ๐ฅ **Binance's Latest LUNC Burn**
- **Burn Amount**: 1.7 billion LUNC
- **Burn Date**: July 1
- **Burn Mechanism**: 23rd batch
- **Additional LUNC Burned in Tax**: 8.5 million
- **Total LUNC Burned by Binance**: 61.99 billion
#### ๐ **Community Contributions**
- **Total LUNC Burned by Community**: Over 125 billion
- **Binance's Contribution**: Over 50% of the total LUNC burned since the community took control of the chain
- **Reason for Lower Burn Amount by Binance**: Fewer transactions compared to the community
#### ๐ก **Key Highlights**
- **Monthly LUNC Burn Mechanism**: Binance has been supporting the Terra Luna Classic community since 2022 through its monthly burn initiative.
- **Tax2Gas Implementation**: Expected this month, it is likely to boost the burn narrative further.
#### ๐ **Previous Burns**
- **22nd LUNC Burn Mechanism**:
- **Amount Burned**: 1.35 billion LUNC
- **Value**: $170,104
- **Burned Trading Fees**: From LUNC spot and margin trading pairs
As Binance continues to support the Terra Luna Classic revival, the future looks promising with the community's active participation and upcoming initiatives like Tax2Gas. Stay tuned for more updates on LUNC and its journey towards a brighter future!