#MyFirstSquarePost New to Binance Square, thrilled to share and connect with everyone here!

As of 2024, the burning of Terra Luna Classic (LUNC) tokens continues to be a significant mechanism for reducing its circulating supply. Key contributions include Binance's monthly burns, which recently incinerated 5.59 billion LUNC in January 2024, bringing the total burned to over 389 billion since May 2022. Binance alone accounts for approximately 52% of all burns, reflecting its critical role in the LUNC ecosystem.

Recent data shows that around 253.84 billion LUNC were burned in the last 30 days, with a daily burn rate of over 8.4 billion tokens. Much of the burning comes from transaction taxes and direct contributions to official burn wallets.

This effort aims to create scarcity and potentially enhance the token's value, though market conditions and other dynamics also play a role in price movement. For real-time updates, platforms like Binance and burn trackers are helpful for monitoring ongoing reductions in supply.