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Binance Burns 2.1 Billion LUNC Tokens in a fresh move 🔥
Binance has recently completed its 18th batch of Terra Luna Classic (LUNC) token burns, destroying a significant 2.1 billion tokens.
GET USDT HERE
This action contributes to a total LUNC token burn of 51.27 billion by Binance, showcasing substantial efforts to decrease the circulating supply. The ongoing LUNC burn campaign, involving the community, crypto exchanges, validators, and projects, is close to achieving the remarkable milestone of 100 billion LUNC.
In January, Binance intensified its burning activity, torching 5.57 billion Terra Luna Classic (LUNC) tokens, coinciding with increased LUNC trading volumes on the exchange. The introduction of a USTC perpetual contract and additional trading pairs for USTC and LUNC further boosted token demand. The Terra Luna Classic community collaboratively burns an average of 600 million LUNC tokens per week in their combined efforts.
Despite these proactive burning initiatives, the Terra Luna Classic ecosystem faces challenges with LUNC and USTC prices being under pressure. Over the last 24 hours, LUNC witnessed a 7% decline, trading at $0.00009444. Simultaneously, USTC showed sideways movement, holding a current price of $0.02409. Traders observed liquidation in LUNC, 1000LUNC, and LUNA longs, indicating prevalent shorting activities. Despite this, the community remains optimistic about LUNC, anticipating a potential surge to local highs amid expectations of a broader market recovery and the upcoming Bitcoin halving.
#Write2Earn #TradeNTell #AmanSaiCommUNITY #LuncBurn
Binance has recently completed its 18th batch of Terra Luna Classic (LUNC) token burns, destroying a significant 2.1 billion tokens.
GET USDT HERE
This action contributes to a total LUNC token burn of 51.27 billion by Binance, showcasing substantial efforts to decrease the circulating supply. The ongoing LUNC burn campaign, involving the community, crypto exchanges, validators, and projects, is close to achieving the remarkable milestone of 100 billion LUNC.
In January, Binance intensified its burning activity, torching 5.57 billion Terra Luna Classic (LUNC) tokens, coinciding with increased LUNC trading volumes on the exchange. The introduction of a USTC perpetual contract and additional trading pairs for USTC and LUNC further boosted token demand. The Terra Luna Classic community collaboratively burns an average of 600 million LUNC tokens per week in their combined efforts.
Despite these proactive burning initiatives, the Terra Luna Classic ecosystem faces challenges with LUNC and USTC prices being under pressure. Over the last 24 hours, LUNC witnessed a 7% decline, trading at $0.00009444. Simultaneously, USTC showed sideways movement, holding a current price of $0.02409. Traders observed liquidation in LUNC, 1000LUNC, and LUNA longs, indicating prevalent shorting activities. Despite this, the community remains optimistic about LUNC, anticipating a potential surge to local highs amid expectations of a broader market recovery and the upcoming Bitcoin halving.
#Write2Earn #TradeNTell #AmanSaiCommUNITY #LuncBurn
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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