Binance Burns Another Pack of Terra Luna Classic Tokens, Total LUNC Burned Reaches Over 59 Billion
The popular crypto exchange Binance has once again made headlines this week with its latest burn of Terra Luna Classic (LUNC) tokens. According to the LUNC Burn Tracker, Binance burned another pack of LUNC tokens, bringing the total amount burned by the exchange to over 59 billion.
This additional burn of LUNC tokens by Binance is part of its ongoing support for the Terra Luna Classic community. The exchange regularly burns LUNC tokens every month, in addition to its monthly burn mechanism. The latest transaction on May 23 saw Binance sending more LUNC tokens to the burn wallet, further contributing to the revival of Terra Luna Classic.
In early May, Binance burned 1.4 billion Terra Classic tokens in the 21st batch of the LUNC burn mechanism. With the latest burn, Binance has now burned a total of 59.07 billion LUNC tokens, accounting for over 51.9% of the total LUNC burned by the community, which has surpassed 113.71 billion.
Despite the positive news of the token burn, the broader crypto market saw a selloff in the US hours, leading to a decline in the prices of LUNC and USTC tokens. LUNC price fell by 3% in the last 24 hours, trading at $0.0001131, while USTC price dropped by 4% to $0.02289.
As investors and traders navigate through market volatility, Binance’s continued support for the Terra Luna Classic community through token burns remains a key highlight in the crypto space. Stay tuned for more updates on the latest developments in the crypto industry.