Binance Burns Over 59 Billion Terra Luna Classic Tokens: Analysts predict 1,134% surge for Terra Classic to $0.00139🚀
Binance has burned over 59 billion Terra Luna Classic (LUNC) tokens, contributing to 51.9% of the community’s total burns. This significant effort has led to a 3% surge in LUNC's price this week, signaling positive market sentiment.
Continuing its dedication to the Terra Luna community, Binance conducted another LUNC token burn. According to the Lunc Burn Tracker, the latest burn brings Binance’s total to over 59 billion LUNC tokens. Traditionally, Binance burns LUNC tokens on the first of each month, but this time, the exchange executed an additional burn operation.
Binance’s monthly LUNC burns are crucial for supporting the Terra Luna Classic ecosystem. Despite a noticeable drop in trading volume in May, which affected burn expectations for June, Binance remains steadfast in its efforts. Beyond monthly burns, Binance occasionally conducts surprise burns, further reducing the circulating supply of LUNC tokens. This proactive approach is aimed at stabilizing and revitalizing the Terra Luna Classic ecosystem.
Analysts are optimistic, predicting a 1,134% surge for Terra Classic to $0.00139, as LUNC confirms a major bullish pattern. In early May, Binance burned 1.4 billion LUNC in its 21st batch of tokens since the initiative began. The latest burn of 29,828 LUNC brings the total to 59.07 billion tokens. With Binance accounting for 50% of the total LUNC burned, its role in the revival of Terra Luna is undeniable.
The Terra Luna community has collectively burned 113.71 billion LUNC tokens, with Binance playing a pivotal role since 2022. These burns aim to reduce LUNC’s supply, potentially increasing its value. Despite market fluctuations, LUNC has shown resilience, currently trading at $0.0001131 with a 3% price increase over the week.
Binance’s recent milestone of burning over 59 billion Terra Luna Classic tokens underscores its unwavering commitment to the LUNC community and to restore and stabilize the Terra Luna Classic ecosystem.
