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Home»BITCOIN NEWS»Terra Classic is set to reawaken as Binance burns 2.2 billion LUNC.
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Terra Classic is set to reawaken as Binance burns 2.2 billion LUNC.

By Crypto FlexsMarch 3, 20243 Mins Read
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Terra Classic is set to reawaken as Binance burns 2.2 billion LUNC.
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Binance, the world’s largest cryptocurrency exchange, Massive Token BurnWe have decided to burn over 2 billion LUNC per day.

Binance Begins Massive LUNC Burn

A new report from a member of the Terra Luna military has emerged from X (formerly Twitter). revealed Massive 2.2 billion LUNC burn initiated by Binance. Cryptocurrency exchanges burned approximately 2,243,572,668. away token Its value is approximately $321,301.

Cumulatively, Binance executed Since May 2022, a total of 53.49 billion LUNC has been burned across 2,956 transactions. In early February 2024, cryptocurrency exchanges started the month with over 2.09 billion LUNC burns.

At the beginning of the year, on January 1, Binance conducted another massive burn of 5.57 billion LUNC tokens. Cryptocurrency exchange LUNC on fire For several years, we have had a tradition of burning a significant amount of LUNC tokens on the 1st of every month.

Current total amount of LUNC tokens burn After May 2022, the number is estimated to be 102.14 billion. This includes Binance’s large-scale incineration and Terra Classic Community.

Commemoration Binance’s Commitment to Terra Classic Through the burn plan, the Terra Luna military expressed its gratitude to Binance’s former and current CEOs ChangPeng Zhao and Richard Teng, respectively, for their continued support.

Total crypto market cap is currently at $2.26 trillion. Chart: TradingView.com

Binance’s token burn effort not only highlights the exchange’s commitment to fostering sustainable growth within the Terra ecosystem, but also reflects its spirit of collaboration with the Terra community, kicking off the reawakening of the Terra ecosystem. Terra Classic Ecosystem.

The potential revival of Terra Classic

As follows Terra Classic Community We continue to appreciate Binance’s proactive actions to increase token value. anticipation Ignite your potential The revival of Terra Classic market.

Token burning is generally a common practice performed to manage the total supply of a cryptocurrency, potentially influencing market dynamics. Binance decides to execute $2.2 billion Burn LUNC Optimism has been sparked about a potential revival of the Terra Classic.

The total supply of LUNC currently stands at approximately $5.78 trillion, with Binance’s monthly burns increasing scarcity and potentially price surge For cryptocurrency.

Additionally, the Terra Classic community revealed LUNC is currently showing significant strength after breaking a major resistance level. The cryptocurrency has experienced a sharp rise of 49% in the last 30 days, highlighting its strength and potential in the market.

The community also revealed upcoming projects and the emergence of new partnerships. Value of LUNC Taking the Terra Classic ecosystem to a new level.

Featured image from Pexels, chart from TradingView

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