Binance Burns Over 59 Billion Terra Luna Classic Tokens in Latest LUNC Burn
Crypto Exchange Binance continues to show true service to the Terra Luna Community by conducting another token burn. According to Lunc Burn Tracker Binance just burned another heap of LUNC tokens totaling the number of tokens burned by the crypto #exchange to over 59 Billion.
Usually, Binance conducts LUNC burns on the first day of every month, the crypto exchange decided to up the bar and execute another LUNC burn operation.
The monthly LUNC burns are a key aspect of Binance’s support to the Terra Luna Classic ecosystem, despite a noticeable drop in trading volume in May which has impacted the burn amount expectations for June.
In addition to its monthly burns, this leading crypto exchange by trading volume conducts “surprise” burns of LUNC tokens. By sending another batch of LUNC tokens to the burn wallet, this mechanism reduces the number of LUNC tokens circulating in the crypto market. This is a significant gesture of Binance’s proactive approach to stabilizing and revitalizing the #TerraLunaClassic ecosystem.
In early May, Binance took 1.4 billion LUNC to the burn wallet as its 21st batch of LUNC tokens since the initiative began. With the latest token burn of 29,828 LUNC, the number totaled 59.07B tokens.
Binance accounts for 50% of the total LUNC burned. This significant contribution underscores Binance’s major role in the #terraluna revival efforts.
The Terra $LUNA community has wholly contributed to the total burn of 113.71 billion #LUNC✅ tokens. Binance has supported Terra LUNA tirelessly with the monthly burns since 2022. The monthly $LUNC burn mechanism has been a cornerstone of the community’s efforts to restore LUNC’s price value and stability to the LUNC ecosystem.
