Last Minute Move For This Altcoin From Binance!

In the latest token burn news, two phases of the ethic that Binance relaunched last month have been completed. This altcoin permanently removes 1.6 billion tokens from circulation.

Binance performed a billion token burn in this altcoin

The leading exchange completed the 8th phase of the LUNC burn mechanism today. In the last batch, 1.6 billion Terra Luna Classic (LUNC) was burned, bringing the total number of LUNC burned to over 30 billion. Binance has become one of the biggest contributors to the Terra Luna Classic community, accounting for 58% of the total LUNC burn.

After the last LUNC burn, the LUNC price rose 3% at one point. At the time of writing, it continues its horizontal movements with a slight rise.

In the recent LUNC cremation, 1.612 billion Terra Luna Classic (LUNC) were sent to the dead wallet for the period from February 28 to March 30, 2023. Binance burned a total of 30.5 billion LUNC with fees from spot and leveraged transactions.

LUNC token burn rate drops

Binance previously used all fees from LUNC spot and margin trading to burn LUNC. This rate has been changed from 100% to 50% at the suggestion of the community.

The decrease in Binance’s LUNC burn contribution was due to the community burning 50% LUNC spot and margin trading fees instead of 100% regarding the 0.2% burn tax to fund the community pool, instead of 10% for on-chain development.

Altcoin burning operations resumed after a 3-month hiatus

After a 3-month hiatus, Binance re-implemented the LUNC burn mechanism, burning 8.85 billion Terra Luna Classic (LUNC) on March 2. The resumption of the burn contribution comes after the v.1.1.0 upgrade, which implemented changes to the network to address the concerns that Binance expressed when it delayed token burns in September 2022. Specifically, Binance has requested parameter changes to ensure that burns are not reprinted later.

Proposals to address the concerns were put to a management vote. The community accepted the suggestions and the network changes are included in the Terra Classic v.1.1.0 upgrade, which went live on March 1. Despite continuing token burns, Binance is burning only 50% of LUNC transaction fees instead of 100%.

LUNC and Ethereum Levels in February

Although the community looked forward to a major incineration event, it rejected proposals to increase the incineration rate. Some are concerned that Binance may withdraw the LUNC burn mechanism or lower the burn contribution.

Investors are chasing new trends

With Binance’s recent burn, LUNC price has risen 3% at one point and is currently trading in the $0.000125 region, where it is moving sideways. However, the continuation of the bull market momentum in March did not come. cryptocoin.comAs you follow, artificial intelligence-AI Coins have been capturing market trends since the beginning of the year. Main developer Edward Kim says Terra Classic could become an AI chain.

Contact us to be instantly informed about the last minute developments. twitterin, Facebookin and InstagramFollow and Telegram And YouTube join our channel!

Risk Disclosure: The articles and articles on do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. does not recommend buying or selling any cryptocurrencies or digital assets, nor is an investment advisor. For this reason, and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.

Disclaimer: Advertisements on are carried out through third-party advertising channels. In addition, also includes sponsored articles and press releases on its site. For this reason, advertising links directed from are on the site completely independent of’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on and the pages directed by the links in the sponsored articles do not bind in any way.

Warning: Citing the news content of and quoting by giving a link is subject to the permission of No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of in violation of intellectual property law and relevant legislation.

Show Disclaimer

source site-1