Binance's Terra Luna Classic (LUNC) Burn Dropped to 1.4 Billion

Crypto exchange Binance sent 4.17 billion Terra Luna Classic (LUNC) tokens to the burn address, according to the LUNC burn on May 1. The crypto exchange is the largest contributor to LUNC burning, accounting for 52% of the total LUNC burned. society.

Particularly the 21st batch of the LUNC burning mechanism, Binance burned a significant amount of transaction fees in the period between March 31 and April 29. Binance has currently burned approximately 57.66 billion#TerraLunaClassic (LUNC) tokens from LUNC spot and margin trading fees. couples.

The decline in trading volumes is due to a decline in daily LUNC trading volume in April due to a market-wide decline in crypto prices and trading volumes. In March, LUNC saw a massive daily trading volume of over $100 million and prices rose above the $0.0002 level. Average daily trading volume in April was $30 million and prices dropped to $0.0001. Its market value also dropped from $1 billion to less than $600 million in a month.

In the 20th LUNC burn mechanism, Binance burned 4.17 billion Terra Luna Classic ($LUNC ) tokens. The exchange burned through 4.17 billion transaction fees on the #LUNC✅ spot and margin trading pair worth $722,630 as trading volumes increased significantly in March.