Crypto exchange Binance burns over 1 billion LUNC tokens as Terra Luna Classic community awaits massive burn by TFL.
Highlights
Binance burned 1.048 billion Terra Luna Classic tokens in the 27th batch of monthly burn mechanism.
Total LUNC tokens burned by the Terra Classic community reaches almost 137 billion.
LUNC and USTC eyes gain amid massive burn by Terraform Labs.
The world’s largest crypto exchange Binance burned 1.048 billion Terra Luna Classic tokens in the 27th batch of its LUNC burn mechanism. With the latest Binance LUNC burn, the total tokens burned by the Terra Classic community reached almost 137 billion
The burn has sparked bullish speculation in the community. Will LUNC price recover to 0.0001 again this week for further rally amid massive token burn by Terraform Labs?
Binance Sends 1 Bln Terra Luna Classic (LUNC) to Burn Address
The Terra Luna Classic community saw 1.048 billion LUNC tokens burned by crypto exchange Binance, as per the burn transaction on November 1. Also, the burn transaction saw tax costs of 5.2 million LUNC.
In the 27th batch of the LUNC burn mechanism, the crypto exchange burned $95,073.99 in trading fees for the period between September 30 to October 30. The total LUNC burned by one of the top crypto exchanges has now reached nearly 66.66 billion LUNC tokens.
The burn has sparked bullish speculation in the community. Will LUNC price recover to 0.0001 again this week for further rally amid massive token burn by Terraform Labs?
Binance Sends 1 Bln Terra Luna Classic (LUNC) to Burn Address
The Terra Luna Classic community saw 1.048 billion LUNC tokens burned by crypto exchange Binance, as per the burn transaction on November 1. Also, the burn transaction saw tax costs of 5.2 million LUNC.
In the 27th batch of the LUNC burn mechanism, the crypto exchange burned $95,073.99 in trading fees for the period between September 30 to October 30. The total LUNC burned by one of the top crypto exchanges has now reached nearly 66.66 billion LUNC tokens.
LUNC price dropped 8% in the last 24 hours and pared all last week’s gains amid the crypto market selloff. The price is currently trading at $0.00008936, with a 24-hour low and high of $0.00008868 and $0.00009834, respectively. Moreover, the Terra Luna Classic trading volume has decreased by 50% in the past 24 hours, indicating a rise in interest among traders.
Meanwhile, USTC price tumbled more than 10%, but was up 1% in a week. The price is now trading at $0.0222, with the trading volume also declining by 50% in the last 24 hours.
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