Binance Burns 1.04 Billion Terra Classic (LUNC) Tokens, Price Jumps
Binance’s Total LUNC Burn Reaches 33 Billion Binance sent 1.04 billion Terra Luna Classic (LUNC) tokens to the burn address as part of the commitment to reducing the LUNC circulating supply, according to the burn transaction. It also includes a transaction fee of 5.22 million LUNC. advertisement Notably, the 10th batch of the LUNC burn mechanism is for the period April 30 to May 30, 2023. With the latest burn, Binance has burned nearly 33 billion Terra Classic tokens in total from trading fees on LUNC spot and margin trading pairs. In May, Binance burned 1.27 billion LUNC tokens. LUNC burns by Binance significantly reduced after the exchange reduced LUNC spot and margin trading fees contribution from 100% to 50%. Despite the low Binance burn, LUNC burn rate increased massively in May as DeFi protocol DFLunc burned over 2.5 billion LUNC . The project is now burning LUNC for Edward Kim’s AI app chain “Block Entropy” testnet tokens, with ...