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- Binance leads the charge, burning over 70B LUNC, driving Terra Luna Classic’s total burn past 400B.
- Despite price drops, LUNC trading volume surges, signaling strong market interest.
The Terra Luna Classic (LUNC) community has reached a significant milestone, successfully burning over 400 billion tokens to date. This achievement is largely attributed to Binance, the world’s largest cryptocurrency exchange, which recently burned more than 736 million LUNC tokens in its 30th batch of the LUNC Burn Mechanism.
Binance has been a major contributor to the LUNC burn initiative, with its recent burn bringing the total amount of LUNC burned by the exchange to approximately 70.85 billion tokens. According to a recent tweet by IBC Group Official, the burn is pushing the total LUNC supply down to 5.5 trillion.
TERRA LUNA CLASSIC HITS 400B BURN MARK AS BINANCE POPS 736M LUNC
So, Terra Luna Classic just hit a huge milestone—400 billion LUNC burned by the community!
Binance just tossed over 700 million LUNC into the fire with its latest burn, marking a big moment for the LUNC burn… pic.twitter.com/B19rBPqN34
— IBC Group Official (@ibcgroupio) February 2, 2025
This ongoing effort aims to reduce the circulating supply of LUNC, which currently stands at around 5.5 trillion tokens.
For better perspective, Crypto News Flash (CNF) earlier reported that Binance has made an official statement confirming its full support for the Terra Luna Classic v3.3.0 update. The exchange will temporarily suspend deposits and withdrawals on the network, but LUNC trading will not be affected during this process.
However, despite these significant burn events, the price of LUNC has experienced a decline. At the time of writing, LUNC is trading at $0.00005395, with a decrease of 23.33% in the past day and 27.84% in the past week. The broader cryptocurrency market has also faced a downturn, influenced by various macroeconomic factors.
Community’s Role in the Burn Campaign and Future Outlook
The LUNC burn campaign is a community-driven initiative, with members, validators, and developers collaborating through governance voting to manage the chain and implement burn strategies. The community remains optimistic about the potential revival of Terra Luna Classic, with multiple projects and developers supporting the cause.
While the burn initiative has made considerable progress in reducing the LUNC supply, its impact on price remains uncertain. Analysts continue to monitor the situation, noting that despite the recent price decline, trading volume has increased by over 23% in the past 24 hours, indicating sustained interest among traders.
In summary, the combined efforts of Binance and the Terra Luna Classic community have led to the burning of over 400 billion LUNC tokens. However, the market dynamics remain complex, and the community continues to work towards the revival and stabilization of LUNC’s value.
