en.bitcoinsistemi.com
Binance, the cryptocurrency exchange that regularly burns Terra Classic ($LUNC), shared the burn amount for October in its statement.
According to data obtained from Terra addresses used by Binance, the exchange burned 1,016,829,621 $LUNC coins this month. This corresponds to a very low amount of approximately $59,000.
At this rate, it would take approximately 483 years for Binance to burn even half of its current $LUNC supply.
However, since May 18, 2022, a total of 76 billion $LUNC coins have been burned, including Binance's burns. 1 billion of these occurred in the last week, largely thanks to Binance's burns.
$LUNC's market value is at $342 million at the time of writing. Following the collapse of the Terra ($LUNA) ecosystem, Do Kwon decided to rename the real $LUNA coins as $LUNC and create a new chain with a hard fork and call them $LUNA.
A similar fate was experienced by UST, the stablecoin of the Terra ecosystem, and the coin was henceforth called USTC.
*This is not investment advice.