EDUSELL
Financial Market Examiner
Midas Crypto Vault
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
Financial Market Examiner
No Result
View All Result
Home Crypto News

Binance Burns 8.85 Billion Terra Luna Classic ($LUNC) Tokens

Admin by Admin
March 3, 2023
in Crypto News
0
Binance, The World's Biggest Crypto Exchange, Is Under Investigation In The US
0
SHARES
3
VIEWS
Share on FacebookShare on Twitter
MMC MMC

The world’s largest crypto exchange Binance has burned massive amounts of LUNC tokens in the 7th batch of the LUNC burn mechanism. This marks the official return of Binance LUNC burns back to the Terra Luna Classic community.

Binance sent 8.85 billion Terra Luna Classic (LUNC) tokens to the burn address, contributing to reducing the LUNC circulating supply. With the latest burn, Binance has burned almost 29 billion Terra Classic tokens in total from spot and margin trading fees.

The 7th batch of the LUNC burn mechanism is for the period November 30, 2022 to February 27, 2023. The crypto exchange switched from weekly burn to monthly burn in November to better organize burn and reduce costs. The crypto exchange is the largest burner of LUNC tokens, contributing more than 50%.

Binance requested necessary changes including a new burn wallet to prevent LUNC re-mints from burns and exempt the burn tax from internal movement between Binance-owned wallets. The community passed all proposals and successfully implemented the v1.10 network upgrade to continue Binance burns.

In the last burn on December 1, Binance burned 6.9 billionTerra Luna Classic (LUNC) tokens. While the community was waiting for the first burn of the year 2023.The total burn by the Terra Luna Classic community has now reached over 48.5 billion LUNC. Moreover, the total LUNC staked has reached 949.17 billion LUNC.

With Binance’s latest burn, the Terra Classic price has jumped over 4% in the last 24 hours. The LUNC price is currently trading at $0.00017. The 24-hour low and high are $0.000162 and $0.000178, respectively.

Furthermore, the trading volume has increased by 100% in the last 24 hours, indicating an increase in interest among traders. Binance reinstating its LUNC burn mechanism is the key moment for the Terra Luna Classic community.

Share on TwitterTweet
Share on Pinterest Share
Share on LinkedIn Share
Share on Digg Share
Tags: BinanceCryptoTerra Luna Classictokens
Institutional Trading Concept Institutional Trading Concept Institutional Trading Concept
ADVERTISEMENT
Previous Post

60% Of Staked Ethereum At Loss After Shanghai Upgrade

Next Post

US Senators Want Meta To Block App For Teenagers

Admin

Admin

Next Post
Meta Suspends NFT Feature On Facebook And Instagram 

US Senators Want Meta To Block App For Teenagers

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

  • 99 Subscribers
  • Trending
  • Comments
  • Latest
yen and dollar

FOREX-Yen Flirts With Intervention Level As Dollar See Gains

October 11, 2022
AUD USD pair

Forex: AUD/USD Point To More Downside For The Aussie

October 20, 2022
Mayowa Owolabi on battles traders need to fight

Battle Every Trader Must Fight (Part 1)- Mayowa Owolabi

August 31, 2022
Virtual stadium in the metaverse

Why Virtual Stadium Can Be the Next Big Thing in the Metaverse

January 26, 2023
EUR/USD pair

EUR/USD Recovers from 20-year Lows

2
What is Initial Coin Offering?

Initial Coin Offering (ICO)

0
What is staking?

Staking

0

Defi (Decentralized Finance)

0
Celsius Sets End Of April As New Deadline For Proof Of Claim

Celsius Sets End Of April As New Deadline For Proof Of Claim

March 27, 2023
XRP Lawyer Doubts If UK’s FCA Follows US SEC In Crypto Law

XRP Lawyer Doubts If UK’s FCA Follows US SEC In Crypto Law

March 27, 2023
Regulations Governing Tokenized Deposits and Crypto Assets in South Africa Set to Effect in January 2025

Regulations Governing Tokenized Deposits and Crypto Assets in South Africa Set to Effect in January 2025

March 27, 2023
Bitcoin To $1 Million: Ex-Coinbase CTO Assures Off Bet

Bitcoin To $1 Million: Ex-Coinbase CTO Assures Off Bet

March 27, 2023

Recent News

Celsius Sets End Of April As New Deadline For Proof Of Claim

Celsius Sets End Of April As New Deadline For Proof Of Claim

March 27, 2023
XRP Lawyer Doubts If UK’s FCA Follows US SEC In Crypto Law

XRP Lawyer Doubts If UK’s FCA Follows US SEC In Crypto Law

March 27, 2023
Regulations Governing Tokenized Deposits and Crypto Assets in South Africa Set to Effect in January 2025

Regulations Governing Tokenized Deposits and Crypto Assets in South Africa Set to Effect in January 2025

March 27, 2023
Bitcoin To $1 Million: Ex-Coinbase CTO Assures Off Bet

Bitcoin To $1 Million: Ex-Coinbase CTO Assures Off Bet

March 27, 2023
Financial Market Examiner

Get all the latest Financial Market (Crypto & Forex) news, updates and other relevant resources here.

Follow Us

Browse by Category

  • Crypto News
  • Education
  • Forex News
  • Gaming
  • Review
  • Reviews
  • Stocks
  • Uncategorized

Recent News

Celsius Sets End Of April As New Deadline For Proof Of Claim

Celsius Sets End Of April As New Deadline For Proof Of Claim

March 27, 2023
XRP Lawyer Doubts If UK’s FCA Follows US SEC In Crypto Law

XRP Lawyer Doubts If UK’s FCA Follows US SEC In Crypto Law

March 27, 2023

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

?>