Binance Burns 2.21 Billion Terra Luna Classic
LUNC price soars over 30% as crypto exchange Binance burned 2.21 billion Terra Luna Classic in 19th batch of its LUNC burn mechanism.
The world’s largest crypto exchange Binance burned 2.21 billion Terra Luna Classic (LUNC) tokens in the 19th batch of the LUNC burn mechanism. As a result, the net LUNC burn by the crypto exchange reaches over 53 billion and the total tokens burned by the Terra Luna Classic community reaches over 102 billion.
The 100 billion LUNC milestone uplifted Terra Luna Classic community’s sentiment and confidence amid a collaborative effort to remove LUNC tokens from the circulating supply.
Binance sent 2.21 billion Terra Luna Classic (LUNC) tokens to the burn address terra1sk06e3dyexuq4shw77y3dsv480xv42mq73anxu, as per the transaction on March 1.
Notably, the 19th batch of the LUNC burn mechanism Binance burned over 270 million trading fees for the period January 31 to February 28. After the latest burn, Binance’s total LUNC burn reaches 53.48 billion Terra Classic tokens from trading fees on LUNC spot and margin trading pairs.