Terra Classic (LUNC) Burns 100 Billion Tokens, Boosting Price and Demand
With the majority of assets in the cryptocurrency sector experiencing bullish rallies this week, Terra Classic (LUNC) has returned to the top 100 crypto assets by market capitalization. The Terra Classic community is approaching a significant milestone, with 100 billion of its native tokens burned in a collaborative effort to remove them from circulation. Since the practice was introduced on May 13, 2022, the community has burned 98.52 billion LUNC tokens. In the last seven days alone, they have burned 391 LUNC tokens, reducing the total circulating supply to 5.78 trillion.
This burning campaign, largely accelerated by Binance, has contributed to Terra Classic’s bullish momentum and increasing price. At press time, the price of Terra Classic stands at $0.000117, representing a 4.4% increase in the last 24 hours and a gain of 9.18% over the previous seven days. This price surge is expected to continue due to the burning milestone and community votes on two major know-your-customer proposals.
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