Binance, the world’s largest crypto exchange, invested 5.57 billion in the 17th batch of the LUNC burning mechanism. Terra Luna Classic (LUNC) token burned. The total LUNC burned by the crypto exchange to date has reached more than 49 billion, which is 53% of the total tokens burned by the Terra Luna Classic community.
Terra Classic ecosystem tokens LUNC and USTC prices started the year on a bullish note, rising over 7% following Binance’s latest LUNC burn.
Binance Sent 5.57 Terra Luna Classic to Yakim Address
Crypto Binance exchange sent 5.57 billion Terra Luna Classic (LUNC) tokens to the burning address according to the transaction on January 1.
Specifically, the 17th batch of the LUNC burning mechanism was for the period 30 November to 30 December. With the latest burn, Binance burned 49.17 billion Terra Classic tokens from trading fees on the LUNC spot and margin trading pairs. Following the last LUNC burn by Binance, the community has burned approximately 92.5 billion LUNC tokens.
In December, Binance burned 3.90 billion Terra Luna Classic (LUNC) tokens. The burn rate increased significantly following the massive jump in trading volume on crypto exchange LUNC. Binance and other crypto exchanges have launched a USTC perpetual contract and new USTC and LUNC trading pairs, which have greatly contributed to token trading.
LUNC and USTC Prices Gain Upward Momentum
LUNC and USTC prices are rising amid a broader market rally and the Binance LUNC burn mechanism. Investors need to consider a possible pullback in prices due to possible profit bookings in the next few days.
LUNC price increased by 8% in the last 24 hours and the price is currently trading at $0.000145. The 24-hour low and high price are $0.000137 and $0.000147 respectively. However, trading volume has decreased by 45% in the last 24 hours.
Meanwhile, USTC price rose 7%. It is currently trading at $0.0337. The 24-hour low and high price are $0.0321 and $0.0341 respectively.
Koinfinans.com As we reported, you can find the current market movements here.