Terra Luna Classic (LUNC)

Terra Luna Classic Burn: 400 Billion LUNC Gone as Binance Torches 736 Million Tokens

The Terra Luna Classic (LUNC) community has reached a significant milestone, burning over 400 billion LUNC tokens, with Binance contributing 736 million LUNC in its latest burn. This marks the 30th batch of Binance’s LUNC Burn Mechanism, further reducing the circulating supply to 5.5 trillion LUNC.

Binance’s 736 Million LUNC Burn Boosts Community Efforts

On February 1, Binance executed its latest burn transaction, sending 736 million LUNC tokens to the burn address. This burn, valued at $87,923, covers trading fees collected between December 31 and January 30. Despite being one of the lowest burns from Binance, the exchange remains the leading contributor, with a cumulative burn of 70.85 billion LUNC.

Last month, Binance burned 1.7 billion LUNC following heightened trading activity linked to Terraform Labs‘ bankruptcy proceedings. The exchange’s continued support for LUNC has been a driving force behind the token’s supply reduction.

LUNC Burn Campaign Reaches a New Milestone

The Terra Luna Classic blockchain, managed by its community, validators, and developers, continues to push for a LUNC revival. The latest burn milestone demonstrates the community’s commitment to restoring LUNC’s value.

Multiple Cosmos developers and projects have joined forces to aid LUNC’s recovery, with Binance founder Changpeng “CZ” Zhao reaffirming his support.

LUNC and USTC Price Action Amid Market Selloff

Despite the progress in burning LUNC, its price has dropped 6% in the last 24 hours, currently trading at $0.00007068. The token hit a 24-hour low of $0.00007017 and a high of $0.00007641. The downturn follows a broader crypto selloff, reportedly triggered by U.S. political tensions.

However, LUNC trading volume surged by 25%, indicating renewed trader interest. Analysts remain optimistic about a potential rally to $0.0005 in the coming months.

Meanwhile, USTC price fell 8% to $0.013, with trading volume increasing by 33%.

With sustained burns and growing community support, Terra Luna Classic remains a focal point for investors eyeing long-term recovery.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

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