Binance, the world’s largest cryptocurrency exchange, has recently announced that it has burned 1.14 billion Terra Luna Classic (LUNC) in the 12th batch of the Terra Classic burn mechanism.
The burned tokens were obtained from trading fees on margin and spot trading pairs in July. This recent burn brings the total number of LUNC burned by Binance to about 37 billion and the total burn by the Terra community to about 71.5 billion.
Another Record Burn of LUNC Tokens
According to details of Binance’s burn transactions dated 1st August, the platform lost about 7.06 million LUNC in transaction charges to send 1.14 billion LUNC to the burn address. The move is in line with efforts to lower the number of tokens in circulation.
However, while Terra is known for regularly looking to burn down its huge pool of LUNC in circulation, the platform is far from achieving any desirable results that would positively impact the token’s market value via burn mechanisms.
The 11th batch of the bur
We współpracy z: https://bitcoinist.com/binance-reduces-lunc-supply/
