Binance Burns Billions of Terra Classic, LUNC Price Rally Coming?
Binance Burns 1.2 Billion Terra Classic (LUNC) Tokens Binance sent 1.612 billion Terra Luna Classic ( LUNC ) tokens to the burn address, contributing to reducing the LUNC circulating supply, as the burn transaction. It also includes a transaction fee of 2.53 million LUNC . Notably, the 9th batch of the LUNC burn mechanism is for the period March 31 to April 29, 2023. Binance has burned over 31.83 billion Terra Classic tokens in total from spot and margin trading fees. advertisement The decline in the LUNC burn rate by Binance is due to a fall in spot and market trading volume in April. The Terra Classic witnessed an overall decline in the burn rate as contributions to the LUNC burn campaign fell. The exchange burning 50% of the LUNC spot and margin trading fees instead of 100% also causing the LUNC burn rates to fall. Last month, Binance burned 1.6 billion LUNC tokens. Also, Binance burned 8.85 billion Terra Luna Classic (LUNC), which marked the offici...