NewsletterLUNC News: Cremation Coin Burns 18.69M Terra Luna Classic, Total Reaches 53 Billion
Terra Luna Classic project Cremation Coin burns 18.69 million LUNC tokens in a single transaction as part of its weekly burn campaign. With the latest burn, the total LUNC burned by the project has reached over 333 million LUNC tokens.
Moreover, the total LUNC tokens burned by the Terra Classic community has reached over 53 billion, with major burns by crypto exchange Binance and Cremation Coin.
Terra Luna Classic’s Cremation Coin Burns 18.69 Million LUNC
Cremation Coin in a tweet on April 11 revealed that it burned another 18.69 million LUNC tokens in the latest burn transaction on April 11. The project has in total burned nearly over 333 million LUNC since committing to the LUNC burn campaign to reduce circulating supply.
In addition, Cremation Coin is promoting its Fair Launch, which is already live and performing well on Pinksale. Moreover, Cremation Coin introduced its first NFT project, with 50% of the proceeds going towards burning LUNC.
The Terra Classic community collaboratively burned 113 million LUNC tokens in the last week. The total LUNC burned by the community reaches 53.04 billion.
On Monday, Terra Luna Classic’s most-promising DeFi exchange project Terraport Finance reported that its Terraport Liquidity wallet was hacked. The hacker drained nearly 9.5 million TERRA, 15 billion LUNC, and 5.5 million USTC tokens worth $2 million.
After the Terraport hack, developer group TerraCVita’s LUNC validator lost billion in delegations. However, the group has tracked accounts with all 15 billion LUNC and 5.5 million USTC. The team is currently working with Binance and KuCoin to resolve the situation.
LUNC Price Continues to Trade Near Support
LUNC price has soared by 1% in the last 24 hours, with the price currently trading at $0.0001251. The 24-hour low and high are $0.000123 and $0.0001258. Furthermore, the trading volume has increased just 17% in the last 24 hours, indicating a lack of interest despite the crypto market recovery.
LUNC price continues to trade above the support level of $0.00012, with investors still speculating on the next move in the Terra Luna Classic.
Also Read: Ethereum (ETH) Worth Billions At Risk Of Selloff After Shanghai (Shapella) Upgrade
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