Global cryptocurrency exchange Binance has destroyed 2.21 billion Terra Luna Classic (LUNC) tokens in its 19th batch of the LUNC burn mechanism, propelling LUNC prices to surge over 30%. This latest burn pushes Binance’s net LUNC destruction beyond 53.48 billion tokens, while the broader Terra Luna Classic community has collectively removed 102 billion LUNC from circulation.
Key Highlights of the LUNC Burn
- Binance’s Contribution: Sent 2.21 billion LUNC to the burn address
terra1sk06e3dyexuq4shw77y3dsv480xv42mq73anxuon March 1. - Total Burns: The Terra Luna Classic community has now crossed the 1 trillion LUNC milestone, with weekly burns averaging 400 million tokens.
- Market Impact: Increased trading volume and bullish sentiment have driven LUNC’s price to $0.000181—a 30% jump in 24 hours.
Why This Burn Matters
- Supply Reduction: Circulating supply now stands at 5.78 trillion LUNC (total supply: 6.80 trillion).
- Community Confidence: The 1-trillion burn milestone reinforces long-term ecosystem goals.
- Price Momentum: LUNC’s 45% monthly gain aligns with broader crypto market trends, including Bitcoin’s rally.
👉 How LUNC’s Burn Mechanism Boosts Investor Confidence
Price Rally and Future Projections
- LUNC: Currently trading at $0.000181**, with resistance expected at **$0.0002.
- USTC: Also surged 12% to **$0.0386**, supported by ongoing burns of **800 million USTC** (~$32 million).
FAQs
Q: How does Binance’s LUNC burn mechanism work?
A: Binance periodically burns LUNC tokens collected from trading fees on spot and margin pairs, reducing circulating supply.
Q: What’s next for Terra Luna Classic?
A: The community plans to enhance utility, funding, and chain development to sustain burn rates and price growth.
Q: Why did LUNC’s trading volume rise?
A: Increased market optimism and Binance’s transparent burn reports attract traders seeking short-term gains and long-term holds.
👉 Terra Classic’s Roadmap to $0.001: Is It Possible?
Conclusion
The latest Binance burn underscores the Terra Luna Classic community’s commitment to scarcity-driven value. With bullish technical indicators and rising investor interest, LUNC’s trajectory remains one to watch.
Data Sources: Binance Announcements, CoinMarketCap