Binance Burns 760 Million Terra Luna Classic (LUNC) Tokens
Binance, the world’s largest crypto exchange, has burned 760 million Terra Luna Classic (LUNC) tokens in its 15th batch of token burns. This brings the total number of LUNC tokens burned by Binance to nearly 40 billion, with the community’s total burn surpassing 76 billion. Traders are hopeful that this latest burn will lead to an increase in prices.
LUNC and USTC Prices Fall Amid Market-Wide Pullback
Following a market-wide pullback, the prices of Terra Luna Classic ecosystem tokens LUNC and USTC have seen a significant decline. Investors booking profits in the broader crypto market have put pressure on LUNC and USTC prices. In the past 24 hours, LUNC price fell by 5% and is currently trading at $0.000062. Meanwhile, USTC price dropped by 4% and is currently trading at $0.011.
Hot Take: Binance Continues to Contribute to Token Burn Campaign Despite Decline in Burn Rate
Binance’s recent burn of 760 million Terra Luna Classic (LUNC) tokens is a positive development for the community. Although the burn rate has declined due to various factors, such as FUD and reduced developer activity, Binance’s continued contribution to the burn campaign is appreciated by most community members. There is also discussion within the community about asking Binance to burn USTC tokens alongside LUNC. Overall, while the recent market-wide pullback has affected token prices, the burning of LUNC tokens by Binance could potentially lead to a price increase in the future.
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