Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
- Binance has sent 1.41 billion Terra Luna Classic (LUNC) tokens to the burn address.
- In July, Binance burned 2.65 billion Terra Luna Classic tokens.
During the 12th round of the LUNC burn initiative, Binance incinerated 1.41 billion Terra Luna Classic (LUNC) tokens. This latest burn raises the total number of LUNC tokens incinerated by the cryptocurrency exchange to 37 billion, while the entire community has burned over 71.5 billion LUNC tokens.
On August 1st, Binance transferred 1.41 billion Terra Luna Classic (LUNC) tokens to the burn address, contributing to the decrease of the LUNC circulating supply. A transaction fee of 7.06 million LUNC is included.
Up to now, Binance has burned nearly 37 billion Terra Luna Classic tokens, all derived from trading fees on LUNC spot and margin trading pairs.
Related Posts
In July, Binance incinerated 2.65 billion Terra Luna Classic tokens. The burn rate last month surged significantly as optimism grew following the parity update, professor Edward Kim’s artificial intelligence app chain Block Entropy, and the USTC repeg initiative.
Price in Consolidation Phase
At the same time, the community has burned more than 70 billion LUNC tokens through various burn initiatives, recently surpassing the 71.5 billion LUNC milestone. Conversely, the prices of LUNC and USTC decreased by 2% and 7%, respectively. As per CMC, the current trading price of LUNC is $0.00007941.
The LUNC price is currently confined within a horizontal range according to the daily chart. For the LUNC cryptocurrency to break above the upper limit of the consolidation phase, an increase in buyers is necessary. However, the volume fluctuation seems to be below average and should rise to benefit the bulls.
Highlighted Crypto News Today:
Shiba Inu Community Burns Over 2B SHIB in a Month Ahead of Shibarium Launch
