Giant Burning Move by Terra Classic: 1 Billion Dollars LUNC Was Burned in One Week, Is the 1 Dollar Target Near?

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Terra Classic (LUNC) continues to burn tokens, contributing to community revitalization initiatives. 1,117,048,514 LUNC tokens were permanently removed from circulation through burn mechanisms for seven days between January 17-24. This move demonstrates the LUNC community’s determination to regain the ambitious $1 target.

Here’s the exciting news from leading LUNC supporter CryptoBull (@AlexCryptoBull) on X shared.

LUNC is unstoppable with burning and staking! We burned $1 billion in LUNC and staked 7.1 billion LUNC in a single week!

LUNC has increased recently. In this context, LUNC strengthened the bullish sentiment around the Terra Classic ecosystem. In CryptoBull’s post, there was a 14.95% increase in LUNC tokens staked in the same week, exceeding 7.197 billion.

Further strengthening the bullish trend, data from Terra Classic’s Stakebin platform confirms the accuracy of the reported data. Stakebin shows that 20,258,809 LUNC tokens were burned in the previous 24 hours alone.

The peak of the token burning frenzy occurred at the beginning of 2024. In this context, it resulted in the destruction of a staggering 5.66 billion tokens.

Crypto News Portal, another LUNC advocate and crypto YouTuber, shared a graphic. He predicted that the total number of burns will exceed 100 billion tokens with the Binance token burning process planned to be held next week. Additionally, he stated that the 100 billion token threshold will be important for LUNC.

LUNC’s Next Goal

This burning move created a wave of excitement within the Terra Classic community. Some members are of the opinion that the path to $0.01 is slowly being established. LUNC is currently trading at $0.0001004. The digital asset reacted positively to the news and maintained its position above the important $0.0001 level.

However, a significant increase of 9,860% is required to reach the expected $0.01 mark from its current price. Despite encouraging progress, the road ahead remains challenging.

However, LUNC burns recently reached a new milestone. That’s why the community is committed to this cause. Current progress and upcoming developments, popular cryptocurrency It offers a glimmer of hope for the future of the unit.

You can access current market movements here.


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