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đ„ Terra Luna Classic (LUNC) Token Burn Hits 100 Billion as Binance Destroys 2.1 Billion Tokens - A Crypto Game-Changer!
In a monumental move, Binance has torched 2.1 billion Terra Luna Classic (LUNC) tokens in its 18th burn, bringing the total to a staggering 51.27 billion.
This relentless effort aims to slash the circulating supply, propelling LUNC towards the remarkable 100 billion milestone.
January witnessed a surge in burn rates, with Binance incinerating 5.57 billion LUNC tokens. This spike coincided with heightened trading volumes, fueled by new perpetual contracts and trading pairs. Collaboratively, the community torches an average of 600 million LUNC tokens weekly.
Despite the burning fervor, challenges persist as LUNC and USTC prices face pressure. LUNC dipped 7% to $0.00009444, while USTC held steady at $0.02409.
Liquidations hint at shorting activities, yet the community remains bullish, anticipating a resurgence amidst broader market optimism and the looming Bitcoin halving.
#LUNC #TradeNTell #Write2Earn #BinanceBurn #LUNCBurning $LUNC $SOL $BTC
In a monumental move, Binance has torched 2.1 billion Terra Luna Classic (LUNC) tokens in its 18th burn, bringing the total to a staggering 51.27 billion.
This relentless effort aims to slash the circulating supply, propelling LUNC towards the remarkable 100 billion milestone.
January witnessed a surge in burn rates, with Binance incinerating 5.57 billion LUNC tokens. This spike coincided with heightened trading volumes, fueled by new perpetual contracts and trading pairs. Collaboratively, the community torches an average of 600 million LUNC tokens weekly.
Despite the burning fervor, challenges persist as LUNC and USTC prices face pressure. LUNC dipped 7% to $0.00009444, while USTC held steady at $0.02409.
Liquidations hint at shorting activities, yet the community remains bullish, anticipating a resurgence amidst broader market optimism and the looming Bitcoin halving.
#LUNC #TradeNTell #Write2Earn #BinanceBurn #LUNCBurning $LUNC $SOL $BTC
Binance Burns 1.7 Billion LUNC, Community Reacts
The Terra Classic community expressed its gratitude via a post on X to Binance, the worldâs leading cryptocurrency exchange, for burning 1.7 billion LUNC tokens. This recent burn, which occurred on July 1, 2024, marks the 23rd batch of Binanceâs ongoing burn program for LUNC recovery.
The communityâs appreciation was conveyed through a tweet directed at Binance, CEO Changpeng Zhao (âCZâ), and Richard Teng, CEO of Binance Labs. The tweet acknowledged Binanceâs commitment to the revival of the Terra Classic ecosystem.
This burn initiative is a crucial aspect of the Terra Classic communityâs efforts to reduce the circulating supply of LUNC tokens. By permanently removing tokens from circulation, the burn program aims to increase the scarcity of LUNC, potentially leading to a rise in its price over time.
The recent burn of 1.7 billion LUNC adds to the already significant contribution made by Binance, as they have burned nearly 62 billion LUNC tokens to date. This figure, when combined with the efforts of other members of the Terra Classic community, brings the total number of burned LUNC tokens to over 125 billion.
The communityâs focus on reducing supply is a response to the LUNC implosion of May 2022. The Terra ecosystem experienced a financial crisis that resulted in the collapse of the TerraUSD (USTC) stablecoin and a subsequent plunge in the value of LUNC.
The ongoing burn program represents a collaborative effort between Binance and the Terra Classic community to restore stability and value to the LUNC token. This initiative is expected to continue, with additional support potentially coming from the implementation of Tax2Gas, a feature anticipated to launch this month.
Tax2Gas is a proposed mechanism within the Terra Classic network to redirect a portion of the transaction taxes collected on the blockchain toward further LUNC burns. This feature, if implemented, could significantly accelerate the rate at which LUNC tokens are removed from circulation.
The Terra Classic communityâs positive response to Binanceâs burn program highlights the importance of collaboration within the cryptocurrency industry. By working together, exchanges and communities can develop solutions to address challenges and foster the growth of specific digital assets.
The continued success of the LUNC burn initiative remains to be seen. However, the collaborative efforts of Binance and the Terra Classic community represent a significant step towards reviving the LUNC token and potentially restoring confidence in the Terra Classic ecosystem.
â ïžDisclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#BinanceBurn #LUNC
The communityâs appreciation was conveyed through a tweet directed at Binance, CEO Changpeng Zhao (âCZâ), and Richard Teng, CEO of Binance Labs. The tweet acknowledged Binanceâs commitment to the revival of the Terra Classic ecosystem.
This burn initiative is a crucial aspect of the Terra Classic communityâs efforts to reduce the circulating supply of LUNC tokens. By permanently removing tokens from circulation, the burn program aims to increase the scarcity of LUNC, potentially leading to a rise in its price over time.
The recent burn of 1.7 billion LUNC adds to the already significant contribution made by Binance, as they have burned nearly 62 billion LUNC tokens to date. This figure, when combined with the efforts of other members of the Terra Classic community, brings the total number of burned LUNC tokens to over 125 billion.
The communityâs focus on reducing supply is a response to the LUNC implosion of May 2022. The Terra ecosystem experienced a financial crisis that resulted in the collapse of the TerraUSD (USTC) stablecoin and a subsequent plunge in the value of LUNC.
The ongoing burn program represents a collaborative effort between Binance and the Terra Classic community to restore stability and value to the LUNC token. This initiative is expected to continue, with additional support potentially coming from the implementation of Tax2Gas, a feature anticipated to launch this month.
Tax2Gas is a proposed mechanism within the Terra Classic network to redirect a portion of the transaction taxes collected on the blockchain toward further LUNC burns. This feature, if implemented, could significantly accelerate the rate at which LUNC tokens are removed from circulation.
The Terra Classic communityâs positive response to Binanceâs burn program highlights the importance of collaboration within the cryptocurrency industry. By working together, exchanges and communities can develop solutions to address challenges and foster the growth of specific digital assets.
The continued success of the LUNC burn initiative remains to be seen. However, the collaborative efforts of Binance and the Terra Classic community represent a significant step towards reviving the LUNC token and potentially restoring confidence in the Terra Classic ecosystem.
â ïžDisclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#BinanceBurn #LUNC
đ°đ„ **LUNC Token Burn: Fueling the Recovery Journey** đ„đ°
The Luna Classic community is witnessing a remarkable token burn, with nearly 68,316,447,123 tokens worth a staggering $10 million USDT already incinerated. đ„ Every day, the burn rate stands at around 181,614,899 tokens, equivalent to roughly 27K USDTâa promising sign for LUNC's revival.
But can Luna Classic truly recover? The continuous burn, notably supported by Binance's monthly burns, is a beacon of hope for LUNC's resurgence. đ
How much more does LUNC need to burn to reach $0.01? According to an independent LUNC validator named "LUNC To The Sun (LUNCTTS)," the Terra Classic community must torch 2 trillion LUNC tokens, constituting 30% of the supply, to achieve the coveted $0.01 price target. đŻ This ambitious goal would reduce the total supply to 4.81 trillion tokens, with a targeted market cap of $48 billion.
As of October 2023, over 74.6 billion LUNC tokens have been burned, with Binance leading the charge by incinerating more than 38.81 billion tokens. đ The burn rate has shown remarkable variability, ranging from 95.8 million to over 181 million tokens per day. Recent spikes have resulted in the torching of over 749 billion LUNC tokens, fueling optimism for LUNC's future. đđ„
With each burn, the path to recovery becomes clearer, signaling brighter days ahead for Luna Classic. Keep an eye on the burn rate and join the community in their journey to success! đȘđ #LUNC #CryptoRevival #BinanceBurn đ„đ
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The Luna Classic community is witnessing a remarkable token burn, with nearly 68,316,447,123 tokens worth a staggering $10 million USDT already incinerated. đ„ Every day, the burn rate stands at around 181,614,899 tokens, equivalent to roughly 27K USDTâa promising sign for LUNC's revival.
But can Luna Classic truly recover? The continuous burn, notably supported by Binance's monthly burns, is a beacon of hope for LUNC's resurgence. đ
How much more does LUNC need to burn to reach $0.01? According to an independent LUNC validator named "LUNC To The Sun (LUNCTTS)," the Terra Classic community must torch 2 trillion LUNC tokens, constituting 30% of the supply, to achieve the coveted $0.01 price target. đŻ This ambitious goal would reduce the total supply to 4.81 trillion tokens, with a targeted market cap of $48 billion.
As of October 2023, over 74.6 billion LUNC tokens have been burned, with Binance leading the charge by incinerating more than 38.81 billion tokens. đ The burn rate has shown remarkable variability, ranging from 95.8 million to over 181 million tokens per day. Recent spikes have resulted in the torching of over 749 billion LUNC tokens, fueling optimism for LUNC's future. đđ„
With each burn, the path to recovery becomes clearer, signaling brighter days ahead for Luna Classic. Keep an eye on the burn rate and join the community in their journey to success! đȘđ #LUNC #CryptoRevival #BinanceBurn đ„đ
Follow | Like â€ïž | Quote đ | Commentđ