More Than 6 Billion LUNC Tokens are Burned by Binance 


In the sixth round of the Terra Classic (LUNC) burn mechanism, Binance has burned more than 6 billion Terra Classic (LUNC) tokens. 

By burning the most recent tokens, Binance will have burned about 20 billion Terra Classic (LUNC) tokens overall, which were obtained from trading commissions on Terra Classic (LUNC) spot and margin trading pairs, and as such,  the price of Terra Classic (LUNC) has increased by almost 2% during the past 24 hour-period.

Approximately 6.39 billion Terra Classic (LUNC) tokens were burned by Binance on Thursday by sending them to the burn address. The deal additionally includes a 12.77 million Terra Classic (LUNC) fee. 

The six-month period ending on November 30 is covered by the Terra Classic (LUNC) trading fees incinerated in the sixth lot. Following its sixth burn, the cryptocurrency exchange changed its burn mechanism from a weekly basis to a monthly basis.

Because of low trading activity and the approval of Proposal 5234, which decreased tax burn from 1.2% to 0.2%, the quantity of Terra Classic (LUNC) burned kept decreasing.

In November, the Terra Classic (LUNC) users also burnt up to 150 million Terra Classic (LUNC)  tokens. As a portion of its weekly burn, Allnodes destroyed 25,827,385 Terra Classic (LUNC) tokens, whilst LUNC DAO burned a total of 4,928,589 Terra Classic (LUNC). The price of Terra Classic (LUNC) is currently $0.00016, up roughly 2% over the previous day. The low and high values over the past 24 hours are $0.0001606 and $0.000166, correspondingly. Despite market pressure for a selloff, the price is still moving.