🔥🔥🔥Binance burns more Terra Classic (LUNC) tokens, net consumption reaches over 59 billion

#Binance burns additional LUNC tokens

Crypto exchange Binance burns additional Terra Luna Classic ($LUNC ) tokens each month, which are not part of Binance's monthly LUNC burn mechanism. Binance sent additional LUNC tokens to the burn wallet, per a May 23 transaction.

Binance burned 1.4 billion Terra Classic tokens in the 21st batch of the#LUNCburn mechanism in early May. Following Binance's latest burn, the total number of LUNCs burned by the crypto exchange to date has now exceeded 59.07 billion, representing 51.9% of the total LUNCs burned by the community.

The total number of LUNC tokens burned by the Terra Luna Classic community has reached over 113.71 billion. Binance has continued to support the community for the revival of Terra Luna Classic since 2022 through its monthly LUNC burn mechanism.

LUNC and USTC Price Performance Amid Market-Wide Sell-Off

The crypto market saw broader retracements in the United States as whales and investors sold their holdings, given a similar sell-off seen immediately after the SEC's spot approval of the Bitcoin ETF in January. However, prices are rebounding after the SEC approved Ether spot ETFs.

LUNC price increased by over 3% this week. The price is currently trading at $0.0001131, with a 24-hour low and high of $0.0001094 and $0.0001179, respectively. Additionally, trading volume has further decreased over the past 24 hours.

Meanwhile, USTC price is trading at $0.02248, moving mostly sideways this week. The 24-hour low and high are $0.02128 and $0.02296, respectively.#altcoins$LUNC