Terra Luna Classic Burn Reaches 50B, Price to Rally?

Terra Luna Classic’s total burn reaches nearly 50 billion as a project committing massive weekly burn sends over 106 million LUNC to the burn address. The community burned over 547 million LUNC tokens last week, after a massive 9 billion LUNC burned in the first week of March supported by 8.85 billion tokens burned by Binance.

Cremation Coin on March 14 revealed that it has burned over 106 million Terra Luna Classic (LUNC) tokens in a single transaction. With its highest-ever burn since December, the project has in total burned nearly 200 million LUNC since committing to the LUNC burn campaign to reduce circulating supply.

The transaction details reveal 106,101,562 LUNC tokens sent to the burn address at 8:16:56 AM on March 14. It has a transaction fee of 212,210 LUNC. Cremation Coin commits to converting 10% of its trading volume to Terra Luna Classic (LUNC) tokens every week.

On March 7, Cremation Coin burned 51,733,696 LUNC tokens to enter the top 10 LUNC burn list of LUNC Dash. The project is now at the 7th position, behind validator Allnodes’ 344.35 million total LUNC burn.

Terra Classic influencer Classy Crypto in a tweet earlier agreed with massive amounts of LUNC tokens burned by Cremation Coin. He purchased some CREMAT tokens to increase the LUNC burn amount, saying “Just grabbed a bag, let’s burn some LUNC.”

Also Read: Terra Classic Community Rejects Proposal To Remove Core Dev “Zaradar”

Terra Luna Classic Price To Rally?

Terra Luna Classic (LUNC) price jumped nearly 5% in the last 24 hours, with the price currently trading at $0.00014. The 24-hour low and high are $0.000130 and $0.000141, respectively. Furthermore, the trading volume is flat in the last 24 hours, indicating a decrease in interest among traders due to recent crypto market troubles.

The latest rally is supported by the market-wide recovery in the market after the U.S. CPI data. Bitcoin price rallied past $26K, the first time in the last 9 months.

Also Read: Silicon Valley Bank Now Under Investigation By U.S. SEC & Department Of Justice

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

Source: https://coingape.com/lunc-news-terra-luna-classic-burn-reaches-50b-price-jump-ahead/