Terra Luna Classic Community Burns 400 Billion LUNC, Binance Sends Over 700 Million LUNC to Burn Address

Cryptocurrency exchange Binance sent over 736 million $LUNC tokens to a burn address, according to a burn transaction on February 1. This was one of the lowest burns by the exchange since it launched the $LUNC burn mechanism to support the Terra Luna Classic community. In the 30th batch of the $LUNC burn mechanism, the crypto exchange burned $87,923 in trading fees between December 31 and January 30. This brings the total amount of $LUNC burned by the exchange to 70.85 billion $LUNC tokens, according to the burn tracker.

Notably, Binance burned 1.7 billion $LUNC tokens the previous month after a huge trading volume in response to Terraform Labs’ bankruptcy and token burn. The burning campaign has reached another milestone as the total amount of $LUNC burned by the community has surpassed 400 billion. Community members are optimistic about the resurgence of Terra Classic.

The price of $LUNC is falling and at the time of writing, $LUNC is trading at $0.00005883. Terra Luna Classic trading volume has increased by 25% in the last 24 hours, indicating increased interest among traders. Analysts are still confident of a rise to $0.0005.

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