MEXCTerra Luna Classic Burn Hits 85 Billion Milestone, LUNC & USTC Prices Recover
The Terra Luna Classic community has burned 85 billion LUNC since May 18, 2022. This is another milestone in the community’s efforts to reduce the circulating supply of LUNC. The world’s largest crypto exchange Binance has contributed almost 43.6 billion LUNC to the total burn, contributing over 51% to the total LUNC burned until now.
LUNC token circulating supply is 5.83 trillion and the total supply is 6.82 trillion LUNC. However, the community still needs to increase utility to increase the LUNC burn rate.
Total LUNC Burn Hits 85 Billion Milestone
Terra Luna Classic is managed by community-approved developers, as well as trusted validators and members after Do Kwon separated the chain from TFL.
Terra Luna Classic burn campaign has reached the 85 billion LUNC milestone as crypto exchanges, validators, projects, and members burn LUNC by sending it to the burn address. The community burns on average 200 million LUNC per week, with Binance sending billions to the burn address every month.
Binance burned almost 4 billion Terra Luna Classic (LUNC) tokens in the 16th batch of the LUNC burn on Dec 1. The total LUNC burned by the crypto exchange to date has reached 43.6 billion.
The massive burn came amid an increase in LUNC spot and margin trading volumes after Binance and other exchanges launched USTC perpetual contracts and listed new USTC and LUNC pairs.
Read More: Terra Luna Classic L1TF Successfully Completed v2.3.2 Upgrade, Will LUNC Price Rally?
LUNC and USTC Prices Under Pressure
LUNC and USTC prices move under pressure despite a recovery in the broader crypto market. Investors continue profit booking due to low trading volumes in the last few days.
LUNC price jumped 1% in the last 24 hours, with the price currently trading at $0.00019. The 24-hour low and high are $0.000196 and $0.000208, respectively. Trading volume has increased by 120% in the last 24 hours.
Meanwhile, USTC price trades at $0.0437, up nearly 2% in 24 hours. The 24-hour low and high are $0.0434 and $0.0512, respectively.
Also Read:
- Popular Analyst Predicts 20% Further Rally In ADA, DOGE And DOT Prices
- Shiba Inu Lead Shytoshi Kusama Confirms Over $1 Million In SHIB And BONE Burn
- Cathie Wood’s Ark Invest Offloads Coinbase, GBTC & Robinhood Shares
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.
Related Articles
- Ripple Swell Conference 2025: How to Watch, Date, and Expected Impact on XRP
- Crypto Market Crash as $595.8M in Longs is Liquidated, Bitcoin Slides to $105,000
- Saylor’s Strategy Buys 397 BTC as Trump Blames Democrats for Prolonged U.S. Shutdown
- Bitget Erects 10-Meter Interactive LED Tower, Launches Exclusive Crypto Prize Pool At UNTOLD Dubai
- Balancer Hack: $129M in Crypto Assets Stolen, Berachain Validators Halt Chain for Hard Fork
- Solana Price Eyes Rebound as Institutional Demand Tops $3.2B YTD
- Will Hyperliquid Price Hit $50 After OKX Listing?
- Top 3 Developments That Could Impact Bitcoin Price This Week
- Chainlink Price Eyes $30 Rebound as FTSE Russell Collaboration and Supply Squeeze Fuel Optimism
- Ethereum Price As Stablecoin Volume Hits ATH of $2.82T Despite Struggling Crypto Market- Is a Recovery In Sight?
- XRP Price Forecast: Spot ETF Approval Could Propel Token to $3.
