Claim $500Terra Classic Sets New Milestone, LUNC Price To Rally Amid Rising Weekly Burn?
The Terra Classic community in total burned over 226 million LUNC tokens in January, maintaining balance as crypto exchange Binance temporarily suspends its LUNC burn mechanism until March.
This week, the community has burned over 15 million LUNC tokens, as compared to 12 million LUNC in early January. The community reached a new milestone of successfully growing its weekly burn and moving together in the right direction.
Terra Classic Community Burns 15 Million LUNC Tokens
The Terra Classic community aims to burn billions of LUNC tokens in 2023. In fact, validators and projects have successfully supported the LUNC burn campaign after Binance suspended its LUNC burn mechanism until March. Until now, the community has burned 38.71 billion LUNC tokens in total.
The community led by validators and projects has burned over 15 million LUNC this week. The largest burn came from TerraCasino, which burned 10,059,442 LUNC in association with crypto influencer Bull.BnB. TerraCasino took to Twitter to show commitment to the community. It has burned 63 million LUNC in under 3 months.
Cremation Coin, a newly-launched project, sent 2,048,861 LUNC to the burn address. The project has burned over 30 million LUNC in total, as part of its plan to burn 10% of the project’s total transaction volume in LUNC every week.
Validator LUNC DAO burned 1,944,387 LUNC on Sunday, maintaining its position as the 5th largest burner of Terra Classic tokens. The remaining burns came from other community members.
Meanwhile, Binance announces support for Terra Classic (LUNC) upgrade as part of Proposal 11310 by the Joint L1 Task Force developer group led by professor Edward Kim, aiming to upgrade the chain from v1.0.4 to v1.0.5. The Terra Classic (LUNC) network upgrade will happen at block height 11,543,150, expected on February 14.
Terra Classic (LUNC) price currently trades at $0.0001829, up over 7% in a week. The 24-hour low and high are $0.0001801 and $0.0001867, respectively.
Also Read: Binance Supports Terra Classic (LUNC) Upgrade, Will It Start A Bull Run?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Saylor’s ‘Back to Orange’ Signals More Bitcoin Buys as $100K Odds Crash to 1% for 2025
- Trust Wallet Hack Claims Portal Launches After $7M Chrome Extension Breach
- Tom Lee Sees Ethereum at $7K–$9K by 2026 as BitMine Stakes $1B ETH in Just 2 Days
- ECOS Review: Hosted and Managed ASIC Mining Service Provider
- Peter Schiff Warns Bitcoin Could Mirror Silver’s Rise In Reverse
- Is $1 Dogecoin Price Technically Possible in 2026?
- Bitcoin Price Year-End Prediction: Analysts Highlight Key Levels Before 2025 Close
- Pi Network Price Holds $0.20 After 8.7M PI Unlock, 19M KYC Milestone-What’s Next?
- XRP Price Prediction Ahead of US Strategic Crypto Reserve
- Ethereum Price Prediction Ahead of the 2026 Glamsterdam Scaling Upgrade – Is $5,000 Back in Play?
- Cardano Price Eyes a 40% Surge as Key DeFi Metrics Soar After Midnight Token Launch
