LUNC Price To Rally Amid Massive Binance Burn As Over 1 Trillion LUNC Staked

Terra Luna Classic community prepares for massive LUNC price action amid Binance burn mechanism as more than 1 trillion LUNC were staked.

HIGHLIGHTS

Terra Luna Classic eyes massive burn by Binance in the upcoming LUNC burn.

Total LUNC staked has hit over 1 trillion amid decline in prices and massive 7 billion LUNC burn.

LUNC and USTC prices continues to trade mostly sideways in the past 24 hours.

Terra Luna Classic community looks for a massive LUNC burn in the next week by crypto exchange Binance as part of its LUNC burn mechanism. LUNC saw its total supply drop to 6.78 trillion after the enormous trading volumes and burn recently.

Delegators have also staked significantly with Terra Luna Classic validators, bringing the total LUNC staked to over 1 trillion.

Terra Luna Classic Community Eyes Massive Burn

Terra Luna Classic community awaits Binance LUNC burn mechanism to provide the necessary push to reduce LUNC tokens supply. Massive trading volumes this month sparked speculation of a higher amount of LUNC burn by Binance. The crypto exchange has burned nearly 60.42 billion LUNC, accounting for 48.8% of the total LUNC burned by the community.

The community has burned nearly 124 billion LUNC until now, with 71 billion by sending to burn wallet and 53 billion through on-chain burn.

In the last 7 days, almost 7 billion LUNC burn came from as whales and investors moved LUNC from centralized crypto exchanges. Total fees accrued from these transactions were 8.34 billion LUNC.

Total LUNC staked has skyrocketed to above 1 trillion, providing enough support from validators and the community. The staking ratio has increased to 14.83%. Moreover, the community pool reserve saw the required boost, with 6.22 billion LUNC and 12.37 million USTC. It gives the community enough funds for development activity.