🚀 **Binance's Latest LUNC Token Burn: A Bold Move to Shrink Supply!** 🚀

In a strategic move to reduce the supply of Terra Classic (LUNC) tokens, Binance executed a massive burn on August 1, 2024. The exchange incinerated 1,149,430,203 LUNC tokens in one fell swoop, transferring them from the wallet address “terra18…24sqe” to a dead address. This burn effectively reduces the total LUNC supply, making a notable impact in the crypto world.

Despite a generally bearish market, Terra Classic futures showed a bullish trend with a +0.56 weekly change in open interest, as noted by Coinglass. This latest burn, while significant, is smaller compared to earlier this year—June saw 1.7 billion tokens burnt, and January's burn reached an impressive 5.5 billion. The largest burn on record was a staggering 8.8 billion tokens in March 2023.

Stay tuned for more updates as Binance continues to make moves that shake up the crypto space! 🔥 #Binance #LUNC #CryptoBurn #wanttoearn