Recent Terra Classic Mega Burn: Impact On LUNC Price
Terra Classic (LUNN) has experienced a substantial burn of over 6 billion LUNC tokens, following major sell-offs by large investors. This activity arose after Terraform Labs CEO Chris Amani confirmed the impending burn of LUNC and USTC from TFL and LFG wallets. In the past 48 hours, the LUNC burn count has exceeded 6.5 billion, driven by large wallets selling LUNC and significant movements on centralized exchanges. Following a massive 5 billion token burn shared on X by Mr. Diamondhandz1, more burns followed, raising the total to over 6.5 billion. This has driven the 7-day burn metric shown on Luncmetrics to an astonishing 6.93 billion tokens, resulting in a notable decrease in supply, while the community pool has seen an increase. LUNC trading volumes have surged by more than 600% within 24 hours, reflecting heightened trading activity. This spike follows CEO Chris Amaniâs assurance to the #TerraClassic community that $LUNC and $USTC in TFL and LFG wallets would be burned. Amani also committed to blacklisting and burning wallets holding #LUNC. and #USTC C if the firm cannot access them. The latest burn has brought the total #LUNEâ Câ burned to over 123.5 billion, with Binance leading the effort, having burned 60.42 billion LUNC (48.9% of total burns) through its monthly burn mechanism. US_Inflation_Easing _#IntroToCopytrading Alert #altcoin
Binance Rolls Out LUNC Revival Campaign To Repeg USTC To $1
The Thai branch of Binance gets the ball rolling on a campaign that aims to bring LUNC back to life. Binanceâs Thai subsidiary launches #LUNC. : from collapse to resurrection?â The program aims to engage UST & LUNA crash victims from May 2022. By mutual community efforts, #LUNCâs remaining supply drops to 5.51T. The globally leading crypto exchange Binance decided to take their Terra Luna Classic (LUNC) rejuvenation efforts to another level. Binance TH, a joint venture between Binance and Gulf Binance, listed both Terra Luna Classic (LUNC) and Terra Classic USD (USTC) last week. On top of that, Binanceâs Thai subsidiary launched a sweepstakes campaign as well as other rewarding activities in relation to Terra Classicâs game-tested tokens. Firstly, Binance TH issued a gift package of 100,000 LUNC tokens to customers trading LUNC for the first time. In order to partake in these trading activities, Binance TH customers firstly shall complete their Know Your Customer (KYC). Secondly, the crypto aficionados can either deposit 500,000 LUNC tokens to their verified Binance TH account or make their first Terra Classic (LUNC) trade of a minimum value of 50 Tether USD (USDT). Hereâs How Binance Thailand Aims To Revive LUNC Additionally to the ongoing LUNC sweepstakes, Binance Thailand pledged to contact âthose who suffered from $LUNC the most to invite them to join the discussion and share their experiencesâ. The Thai branch of Binance is referring to the UST de-pegging back in May 2022, when the algorithmic stablecoin UST crumbled to pieces, taking the original $LUNA token down as well. As a consolation prize, Binance Thai offers Binanceâs officially-branded merchandise called the âBinance TH Swagâ, whilst special crypto prizes are also on the table. The elaborate LUNC rejuvenation campaign has been going on since mid 2022, when Binanceâs ex-CEO Changpeng âCZâ Zhao announced that the exchange would start to periodically burn #TerraLunaClassic (LUNC) tokens out of compiled trading fees every month. As of press time, the remaining circulating supply has been reduced to 5.51T, with Binance accounting for over 50% of all-time LUNC burns. According to the on-chain burning records, Binanceâs cumulative fee burns recently surpassed 59 billion #LUNCâ coins, while the Terra Classic community is asking to do the same with the malfunctioning stablecoin #TerraClassic USD ($USTC ). Despite a 3% upswing over the past 24 hours, #USTC still trades below 2 cents. On the Flipside Whilst LUNC rejuvenation is a long-term process, Terra Classic dropped below a $500 million global market cap and is far away from returning to the TOP 100. USTCâs repeg to $1 depends on multiple factors, including a coordinated plan with major centralized exchanges to burn a part of the remaining USTC supply. Why This Matters Terra Lunaâs rebranding since the 2022 fiasco has helped the Layer-1 chain to restore some of the initial functions, while crypto investors are still seeking to gain closure for the massive losses incurred back in 2022. Whilst this offer is limited to the first 200 people, Binance TH asks to complete a short survey as the third step. After the form is successfully filled, crypto enthusiasts will need to wait up to 14 business days to receive their special Terra Luna Classic (LUNC) gift in their account. #BNBHODLer #Binance #LUNCâ #BinanceTournament"
#LUNC and #USTC community is tired! Now he's waiting for a move.
Developments may be positive, but they must now be reflected in the price!
âïž The fact that the price is stable and in a downward trend makes the developments seem worthless. The community should think carefully about this situation...
Another 400 Million #USTC has been removed from circulation. The circulating supply of $USTC has dropped below 6 billion units.
âȘïžCurrent USTC circulating supply is 5,752,193,096 units...
âïžWe think that these USTCs removed from circulation will be burned in the future. The same situation exists in #LUNC. . However, $LUNCs have not yet been completely removed from circulation.
Digital asset exchange-traded products and funds faced substantial outflows last week, shedding $600 million, the largest since March 22, according to a June 17 report by CoinShares. #bitcoin #Binance #solana #LUNAđ„ #LUNCđ„
One of the consequences of the Terra - SEC agreement is that the circulating supply of #LUNC\USDT NC and #USTC will be updated...
Wallets belonging to TFL will be removed from roaming data. We will start to see this more frequently in the coming days.
Currently; You saw some #USTC and #LUNCâ NCs taken out of circulation the other day.
â ïž These coins out of circulation; It will be burned and will be deleted from the total supply. I don't know when this will happen. $BTC $ETH $ETH #Binane
Smart people accumulate all months many dips on #LUNC. , those people will be rewarded soon, $lunc season will start soon , we still very early for the biggest play of this cycle đ„đ„đđđđđ