Binance Announces Terra Classic (LUNC) Quantity Burned for November!

world’s largest cryptocurrency exchange Binance has more than 6 billion in series 6 of the LUNC burn mechanism Terra Classic (LUNC) burned the token.

With the last burn, Binance burned a total of approximately 20 billion LUNC tokens from trading fees on LUNC spot and margin trading pairs. As a result, the LUNC price has increased by about 1.2% in the last 24 hours.

Binance Burned 6.39 Billion Terra Classic (LUNC) Tokens in November

Binance burned approximately 6.39 billion Terra Classic (LUNC) tokens by sending them to the burn address on December 1 at 5:35 PM CET. The transaction also showed a fee of 12.77 million LUNC. The sixth part of the burned LUNC transaction fees covers the period from October 30 to November 30.

The crypto exchange had switched from a weekly burn mechanism to a monthly burn mechanism after the fifth burn. The amount of LUNC burned continued to decline, falling from 1.2% to 0.2% due to low trading volume and the passing of Proposal 5234.

Binance burned 13.71 billion LUNC tokens in October. The crypto exchange burned over 5.5 billion Terra Classic (LUNC) tokens in the first batch and 1.26 billion Terra Classic (LUNC) tokens in the fifth batch on Oct. The total amount of tokens burned by Binance has now reached 20 billion LUNC tokens.

Meanwhile, the LUNC community is voting on key proposals to bring back on-chain service providers and validators. Terra Classic developers will apply the v23 upgrade, which includes the CosmWasm upgrade. They will also re-enable inter-blockchain communication (IBC) with Cosmos blockchains at the estimated block number 10,542,500 on Dec.

On the other hand, the LUNC community burned nearly 150 million LUNC tokens in November.

*Not investment advice.