Recent Terra Classic Mega Burn: Impact On LUNC Price
Terra Classic (LUNC) 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 Amani’s 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 if the firm cannot access them.
The latest burn has brought the total #LUNC✅ 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.
