$LUNC Revised Terra Luna Classic Burn Mechanism by Binance: What's Next for LUNC?
This month, Binance has implemented the LUNC burn mechanism multiple times, generating excitement within the Terra Luna Classic community. As the largest contributor, Binance has burned a total of 64.47 billion LUNC tokens to support the revival of the chain and its price.
Has Binance Changed Its LUNC Burn Mechanism?
Recent data suggests that Binance has modified its LUNC burn mechanism, resulting in an increased frequency of burns. Initially, the exchange announced it would burn Terra Luna Classic tokens on the first day of each month. However, this month, Binance conducted six burns instead.
In the 25th batch of the LUNC burn mechanism, Binance burned 1.19 billion LUNC tokens, equivalent to $97,229.23 in trading fees for the period from July 31 to August 29. Additionally, the exchange has completed five transactions totaling 199,389 LUNC tokens burned. Some members of the Terra Luna Classic community believe Binance has altered its token burn strategy.
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