cryptonews.net
Binance on Wednesday burned 1.4 billion Terra Luna Classic (LUNC) tokens in its 21st batch of the LUNC burn mechanism. After the latest burn by Binance, the total LUNC burned by the crypto exchange to date has now surpassed over 57 billion. The total LUNC tokens burned by the Terra Luna Classic community has reached over 112 billion. Binance has continued supporting the community for Terra Luna Classic revival since 2022 via its monthly LUNC burn mechanism.
Crypto exchange Binance sent 4.17 billion Terra Luna Classic (LUNC) tokens to the burn address, as per the LUNC burn transaction on May 1. The crypto exchange is the top contributor to LUNC burn, accounting for 52% of the total LUNC burned by the community. Notably, the 21st batch of the LUNC burn mechanism Binance burned a significant amount of trading fees for the period between March 31 to April 29. Binance has now burned nearly 57.66 billion Terra Luna Classic (LUNC) tokens from trading fees on LUNC spot and margin trading pairs.
Traders immediately responded to Binance’s LUNC burn, resulting in a long-awaited price recovery for the Terra Luna Classic ecosystem. The price of LUNC fell by 5% in a day, at the time of writing, it is trading at $0.00009531. The
Image: Binance Academy