After burning an additional 1.19 billion Terra Classic tokens, Binance’s LUNC burn totaled approximately $65 billion. In the midst of a wider crypto market selloff and discussions about validators violating chain rules, the price of Terra Classic token in spot and derivatives markets has not recovered this time. Binance, a
In Monday’s most recent burn event, crypto exchange, Binance, burnt 1.7 billion Terra Luna Classic (LUNC) tokens. The exchange has burnt over 62 billion LUNC so far, after the 23rd batch of the LUNC burn mechanism. According to the burn transaction that took place on July 1, Binance burnt 1.7
In order to deplete the supply, the Terra Luna Classic community proposes to burn 12 billion LUNC and 68 million USTC in contracts. Which include the Lido DAO rewards dispatcher. As part of the effort to revive and repeg to $1. The community has begun withdrawing LUNC and USTC from
The proposal to integrate Tax2Gas, which eliminates the need to separate tax processing and computation, has finally been approved by the Terra Luna Classic (LUNC) community. According to StrathCole and Genuine Labs, Tax2Gas will combine the tax with gas, simplifying things for dApp developers and others. Members of the Terra
There has been tremendous support for the Genuine Labs Community Spend Proposal from the Terra Luna Classic (LUNC) community. Nearly no one voiced opposition to the proposal, and it was approved with a 99.98% acceptance rate on June 3, 2024. It is anticipated that this vote will have a major
Saturday saw a tremendous increase in the price of Terra Luna Classic ecosystem tokens due to the removal of 1.85 billion USTC and 222 million LUNC tokens from circulation in the Luna Foundation Guard (LFG). In only a few hours, the price of LUNC surged by more than 10% and
On Wednesday, crypto exchange Binance completed its 21st batch of the LUNC burn mechanism, burning 1.4 billion Terra Luna Classic (LUNC) tokens. Following Binance’s most recent burn, the cryptocurrency exchange has burned more than 57 billion LUNC in total. More than 112 billion LUNC tokens have been burnt by the
The cryptocurrency market is currently beaming with bullish momentum and an overall positive sentiment. The pumping in of capital by investors is indicative of increasing market liquidity as well as investor confidence. Amid this brewing bull market, altcoins like XRP and Terra Classic (LUNC) have presented themselves as top gainers.
Another cryptocurrency exchange has joined the Terra Luna Classic community’s token burn initiative in an effort to decrease the amount of LUNC in circulation. Similar to Binance’s 50% LUNC burn mechanism, Singapore-based crypto futures trading platform WEEX has pledged to burn 30% of LUNC trading fees. In a post on
The ever-evolving cryptocurrency landscape throws up new contenders vying for a slice of the crypto market pie. Two altcoins currently capturing the attention of Crypto enthusiasts are Terra Classic (LUNC) and BEFE. While both these altcoins trade below $0.01, some analysts speculate that one of them has the potential to
