Binance on Wednesday burned 1.4 billion Terra Luna Classic (LUNC) tokens in its 21st wave of LUNC burn mechanism. After the latest burn by Binance, the total LUNC burned by the crypto exchange to date has surpassed over 57 billion. The total LUNC tokens burned by the Terra Luna Classic community has reached more than 112 billion. Binance continues to support the community for the revival of Terra Luna Classic from 2022 through its monthly LUNC burning mechanism.
Crypto exchange Binance sent 4.17 billion Terra Luna Classic (LUNC) tokens to the burn address, according to a LUNC burn transaction on May 1. Crypto exchanges are the main contributor to LUNC burning, accounting for 52% of the total LUNC burned by the community. Notably, Binance’s 21st wave of LUNC burning mechanism burned a large amount of trading fees for the period between March 31 to April 29. Binance has now burned nearly 57.66 billion Terra Luna Classic (LUNC) tokens from trading fees on spot and LUNC margin trading pairs.
Traders immediately responded to Binance’s LUNC burn, resulting in a long-awaited price recovery for the Terra Luna Classic ecosystem. LUNC price is down 5% in a day, at the time of writing, trading at $0.00009531. That
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