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Binance on Wednesday burned 1.4 billion Terra Luna Classic ($LUNC) tokens in its 21st batch of the $LUNC burn mechanism. After the latest burn by Binance, the total $LUNC burned by the crypto exchange to date has now surpassed over 57 billion. The total $LUNC tokens burned by the Terra Luna Classic community has reached over 112 billion. Binance has continued supporting the community for Terra Luna Classic revival since 2022 via its monthly $LUNC burn mechanism.
Crypto exchange Binance sent 4.17 billion Terra Luna Classic ($LUNC) tokens to the burn address, as per the $LUNC burn transaction on May 1. The crypto exchange is the top contributor to $LUNC burn, accounting for 52% of the total $LUNC burned by the community. Notably, the 21st batch of the $LUNC burn mechanism Binance burned a significant amount of trading fees for the period between March 31 to April 29. Binance has now burned nearly 57.66 billion Terra Luna Classic ($LUNC) tokens from trading fees on $LUNC spot and margin trading pairs.
Traders immediately responded to Binance’s $LUNC burn, resulting in a long-awaited price recovery for the Terra Luna Classic ecosystem. The price of $LUNC fell by 5% in a day, at the time of writing, it is trading at $0.00009531. The
Image: Binance Academy
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