Binance Burns 1.4 Billion Terra Luna Classic (LUNC) Tokens!

Author: Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

May 1, 2024 22:31

Binance supports the Terra Luna Classic community’s 21st batch of the LUNC burn mechanism, eliminating 1.4 billion LUNC tokens. This step makes Binance Binance’s total LUNC burn to over 57 billion. It’s a major contribution to the community’s total burn that exceeds 112 billion tokens. Though it witnessed declining trading volumes in April, Binance attributed to the broader crypto market downturn. It remains a key player, burning trading fees and contributing to the ecosystem’s revival since 2022. LUNC prices decreased by 5% and USTC by 2% after the burn, while a surge in futures open interest signal trading activity.