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Binance Burnt 1bn Terra Classic (LUNC) Tokens
Best cryptocurrency exchange Binance has reported that it had destroyed one billion Terra Classic LUNC tokens in the previous month. Binance has consistently burned LUNC tokens, with the current batch being the tenth batch since the business began burning LUNC tokens in favour of the community.
Binance burned 1 billion LUNC worth $95,189 this time, which represented trading costs on LUNC spot and margin trading pairings. The tenth batch of trading charges on LUNC spot and margin trading pairs to be burned was estimated between April 30 and May 30, 2023. The 11th set of burns, scheduled on May 31-June 29, will be revealed on July 2, 2023.
The impact of the burn action has yet to be felt, as Terra Classic trades in sync with the general crypto market, which has been marginally up in the last 24 hours. In general, the LUNC price has steadily declined since a large spike on February 3.
Terra Classic has slid further in the cryptocurrency market rankings, now ranking 81st with a market capitalization of $498 million.
(With inputs from Shikha Singh)
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