Surprising Move: 5.4 Million Burns Came at Once! Which Coin?

Last Sunday, 5,619,272 LUNC tokens were removed from circulation. Of these 5.6 million coins, as many as 5.4 million were burned in a single transaction. This amount represents more than 96% of the total coins burned.

According to Terra Finder, the first burning took place at 3:04 am (UTC) on Sunday, removing 80,000 LUNC tokens from circulation. Little is known about the entity behind the incineration process.

5.4 million burn from LUNC DAO

In contrast, the largest transaction in 24 hours took place on December 4 at 20:38 (UTC). In the transaction in question, the network witnessed the burning of 5,431,032 LUNCs at once. Data from Terra Finder shows that the transaction came with the note LUNC-DAO-BURN-38, indicating a link with the standalone Terra validator LUNCDAO.

LUNCDAO is persistently burning as many coins as possible to fulfill its commitment to support the Terra Classic revival campaign. This makes LUNCDAO one of the most active organizations burning LUNC.

Terra Lunc altcoin burned. As we reported, this latest burning event brings the total number of burns of LUNCDAO to more than 415 million tokens. Last month, LUNCDAO burned up to 22 million tokens in a single transaction, one of the largest to date.

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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.

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