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Cryptocurrency exchange Binance continues its regular Terra Classic (LUNC) burns, according to data.
Data shows that Binance has burned approximately 1.3 billion LUNC tokens in a total of 3 transactions so far in June. This means that at the time of writing this article, the cryptocurrency exchange has burned approximately 144 thousand dollars of LUNC tokens in total this month.
For an altcoin LUNC with a market value of $615 million, this burning amount is not an amount that can affect the price much, and on its chart, the token has lost approximately +10 value in the last week.
Approximately half of all Terra Classic token burns to date have been issued by Binance. The value of LUNC tokens burned by the cryptocurrency exchange to date is at the level of 6.4 million dollars. So Binance has burned approximately 1% of the total supply of this altcoin so far.
The exchange carries out its largest token burns at the beginning of the month, but small amounts of burns can also be seen on other days. In other words, Binance Terra Classic burns in June may increase slightly.
*This is not investment advice.