Impressive Token Burn Achievements
As of January 2024, the Terra Luna Classic (LUNC) community has achieved a staggering burn of 95 billion LUNC tokens since the initiative began in May 2022. These community-led burns play a significant role in reducing the circulating supply of LUNC. Leading the contributions with over 51.7% of the total burns is Binance, the world’s largest exchange by volume, which has burned nearly 50 billion LUNC.
The burning frenzy, aimed at propelling Terra Luna Classic forward, has been a collective effort involving crypto exchanges, validators, projects, and community members, drawing widespread attention with the milestone of 95 billion LUNC burned. Weekly community burns average 600 million LUNC, with figures escalating post-November.
Binance has been at the forefront of these events, topping the list of monthly LUNC burns and contributing over 51% to the total LUNC burned by sending billions to burn wallets. The 17th burn event by Binance alone incinerated 5.57 billion Terra Luna Classic (LUNC) tokens, pushing their total burned amount past 50 billion.
Price Surge for LUNC and USTC
LUNC and USTC prices have risen, aligning with the broader market trend. LUNC experienced over a 5.5% increase in the last 24 hours, trading at $0.0001012, with a 24-hour high and low of $0.0000951 and $0.0001032, respectively. The trading volume surged by 103%, indicating a growing investor interest in the altcoin.
Meanwhile, USTC also saw a 4.66% increase over the last 24 hours, trading at $0.02649. The 24-hour price movement ranged between $0.02467 and $0.02713, pleasing USTC investors with its performance.