[This is the amount of Terra Classic (LUNC) burned by Binance this month]
Cryptocurrency exchange Binance continues to regularly burn Terra Classic (LUNC) tokens, according to data. As of June, Binance has destroyed approximately 1.3 billion LUNC tokens worth approximately $144,000 in three transactions.
For LUNC, which has a market capitalization of $615 million, this amount of destruction is not enough to significantly affect its price. The coin’s price has fallen by around 10% over the past week.
About half of Terra Classic token burns to date have been conducted by Binance. In total, Binance destroyed approximately $6.4 million worth of LUNC tokens, accounting for approximately 1% of the altcoin’s total supply.
Binance typically conducts its largest token burns at the beginning of each month, but also conducts smaller burns on other days. Therefore, Binance’s Terra Classic burn volume may increase slightly in June.
