Terra Luna Classic (LUNC) Burn Hits 95 Billion Threshold

• Binance has contributed more than 51.7% of the total burn, or about 50 billion LUNC.
• The community’s average weekly LUNC burn has climbed significantly since November.

Since May 2022, the LUNC burn campaign within the Terra Luna Classic community has surpassed 95 billion LUNC. The community’s efforts to decrease the amount of LUNC circulating have reached another milestone. By far, Binance has contributed more than 51.7% of the total burn, or about 50 billion LUNC.

By transferring billions to the burn address every month as part of its LUNC burn mechanism, Binance has added more than 51% to the overall LUNC burn. For the 17th round of the LUNC burn mechanism, Binance burnt 5.57 billion tokens. Up to this point, the crypto exchange has burnt over 50 billion LUNC.

Team Effort

Thanks to the combined efforts of crypto exchanges, validators, projects, and community members, the Terra Luna Classic burn campaign has finally reached the 95 billion LUNC milestone. The community’s average weekly LUNC burn has climbed significantly since November, reaching 600 million.

There are a total of 6.81 trillion LUNC tokens, with 5.78 trillion currently in circulation. The community must continue to focus on improving the utility, securing financing, and developing the chains in order to cope with the increased LUNC burn rate.

There has been an attempt by the community to burn USTC and LUNC that are now inactive in other protocols; however, a clear direction is required before the burns may start. As the market as a whole rebounded after the monthly expiration, LUNC and USTC prices surged.

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