Breaking: Binance Burns 1.35 Billion Terra Luna Classic, Total Burn Hits 60 Billion

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As a seasoned crypto investor with a deep understanding of the market, I’m always keeping an eye on developments that could potentially impact my portfolio. The recent news of Binance burning yet another significant amount of Terra Luna Classic (LUNC) tokens is certainly worth noting.

On Saturday, Binance, the biggest cryptocurrency exchange globally, destroyed approximately 1.35 billion Terra Luna Classic tokens as part of the 22nd round of its token burning process. This action reaffirms Binance’s commitment to the Terra Classic community.

The amount of Terra Luna Classic (LUNC) tokens burned on Binance’s platform has reached over 60 billion, making up over half (52%) of the total LUNC tokens burned within the Terra Luna Classic community.

Binance Sends 1.35 Billion Terra Luna Classic To Burn Address

As a crypto investor, I’d express it this way: On May 1, Binance transferred 1.35 billion Terra Luna Classic (LUNC) tokens into the burn address following the announced LUNC burn transaction.

As a crypto investor, I’m excited to share that during the span of April 30 to May 29, Binance’s 22nd batch of LUNC burn mechanism burned a substantial amount of trading fees. To put it into perspective, approximately 60.42 billion Terra Luna Classic (LUNC) tokens have been torched from the trading fees on LUNC spot and margin trading pairs. This action not only reduces the circulating supply but also strengthens my belief in the long-term potential of LUNA and its ecosystem.

Last month, Binance destroyed approximately 1.4 billion Terra Luna Classic (LUNC) tokens through fees on its LUNC spot and margin trading markets, which totaled around $156,362. Trading activity for LUNC saw a substantial decrease in both April and May, resulting in low daily trading volumes and largely stable prices hovering around $0.00012.

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2024-06-01 16:15