#BinanceSquareFamily#LUNC#Bitcoin❗️ Binance remains committed to Terra Classic (LUNC) recovery. Here’s why📌

In a recent tweet, Terra Classic validator HC Crypto published a significant burn of over 1.1 billion LUNC (Terra Classic) tokens by Binance.

The exact amount provided was 1,142,098,248.09 LUNC, which according to HC Crypto was equivalent to approximately $ 116,089.76 at the time of the burn. The image attached to the tweet confirms this value and shows the transaction details, including the addresses involved.

The LUNC burn was part of an ongoing effort by Binance, the world’s largest cryptocurrency exchange, to support the Terra Classic community by reducing the overall token supply.

Token burns, a process in which tokens are permanently removed from circulation, are typically performed to create scarcity, which can potentially increase the value of the remaining tokens.

Binance’s continued commitment to LUNC has been widely appreciated by the community, with many users encouraging Binance CEO Changpeng Zhao (CZ) to continue providing guidance and support for the digital asset.

In its tweet, HC Crypto encouraged its followers to engage with the post, asking them to “like” if they believe CZ should continue advising on matters related to LUNC.

The call to action indicates HC Crypto’s intention to rally the Terra Classic community around Binance’s involvement, which was instrumental in the revival of the LUNC project following the collapse of Terra Luna in May 2022.

Community Backlash and Skepticism

However, while Binance’s burns are making a significant impact on the token supply, some community members remain skeptical about the long-term impact on LUNC’s value. A cryptocurrency enthusiast responded to HC Crypto’s tweet, offering a more cautious outlook on the potential for LUNC to see a substantial price increase.

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