Terra Classic community’s campaign to reduce the LUNC supply through token burns has reached the 100 billion LUNC milestone. Binance, the world’s largest crypto exchange, made a significant contribution to LUNC burning with its monthly LUNC burning mechanism. In this context, it represented more than 51% of the total LUNC burned by the community.
The community is currently BinanceExpects the 19th batch of LUNC burning on March 1 to lead another LUNC rally from the 100 billion LUNC burning milestone.
Terra Classic 100 Billion Burn
Terra Classic’s token burning campaign, crypto- surpassed the 100 billion LUNC milestone through the coordinated efforts of exchanges, validators, projects, and community members. The community burned an average of 400 million LUNC each week in February. Additionally, the burn rate has increased significantly since November.
Binance sends billions of tokens to the burn address as part of its monthly LUNC burn mechanism, accounting for more than 51% of the total LUNC burn. Binance has burned 52 billion LUNC tokens so far. The crypto exchange burned 2.1 billion Terra Classic (LUNC) tokens in the 18th batch of the LUNC burning mechanism.
The circulating supply of LUNC token is 5.78 trillion and the total supply is 6.81 trillion. With the bull market gaining momentum, the LUNC community began working to increase benefits, financing, and chain developments to support the increase in LUNC burn rate.
LUNC and USTC Prices Rising
Terra Classic and USTC Its prices jumped amid a broader market rally that saw Bitcoin reach almost $64,000. Additionally, LUNC, 1000LUNC and USTC positions were liquidated in the last 24 hours, giving the tokens an upward momentum.
The LUNC price has increased by 10% in the last 24 hours and has increased by 45% in this month. It is currently trading at $0.000143. The highest and lowest prices were $0.000114 and $0.000155 respectively. Additionally, trading volume increased by 245% in the last 24 hours, indicating high interest among traders.
On the other hand, USTC price fell 1% in the last 24 hours after rising 42% in a month. It is currently trading at $0.0365. Trading volume increased by 58% in the last 24 hours, attracting the attention of traders.
