{"id":66078,"date":"2023-12-01T11:55:11","date_gmt":"2023-12-01T15:55:11","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=66078"},"modified":"2023-12-01T12:14:01","modified_gmt":"2023-12-01T16:14:01","slug":"binance-burns-4b-terra-luna-classic-lunc-tokens","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/binance-burns-4b-terra-luna-classic-lunc-tokens\/","title":{"rendered":"Binance Burns 4B Terra Luna Classic (LUNC) Tokens"},"content":{"rendered":"\n

Binance exchange burns the sixteenth shipment of Terra Luna Classic (LUNC) tokens<\/a>, totaling nearly 4 billion, bringing the total number of LUNC destroyed by the exchange to over 43 billion, representing 52% of the total tokens burned by the Terra Luna Classic community. <\/p>\n\n\n\n

\"Terra
Binance Burns 4B Terra Luna Classic (LUNC) Tokens<\/figcaption><\/figure>\n\n\n\n

The transaction from December 1 indicates that cryptocurrency exchange Binance transferred 3.90 billion Terra Luna Classic (LUNC) tokens to the fire address. Binance continues to support the community's LUNC fire campaign to reduce the amount of LUNC in circulation following Changpeng “CZ” Zhao's departure as CEO.<\/p>\n\n\n\n

It is worth mentioning that the 16th cohort of the LUNC burn mechanism runs from October 31 to November 29. Since the most recent fire, Binance has depleted trading fees on LUNC spot and margin trading<\/a> pairs by more than 43 billion Terra Classic tokens. Nearly 83 billion LUNC tokens have been burned by the community.<\/p>\n\n\n\n

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Terra Luna Classic (LUNC) Supply<\/figcaption><\/figure>\n\n\n\n

Binance incinerated 760 million Terra Luna Classic (LUNC) tokens in November, the fewest to date. As a result of FUD, decreased developer activity, and a decline in LUNC trading volumes on the exchange, the burn rate decreased substantially.<\/p>\n\n\n\n

The community has not witnessed this magnitude of a LUNC combustion in the past few months, CoinGape reports, due to the tremendous increase in trading volumes this week. Binance introduced a USTC perpetual contract and two new USTC trading pairs, FDUSD and TRY, which substantially impact the volume of transactions on the exchange.<\/p>\n\n\n\n

Effect of Burn on LUNC and USTC <\/h2>\n\n\n\n

In the past twenty-four hours, Terra Luna Classic ecosystem tokens have declined, with LUNC and USTC relinquishing recent gains due to profit booking in the broader cryptocurrency market. In contrast, however,<\/p>\n\n\n\n

This week, the price of LUNC increased by 65%, and it is now trading at $0.000116. The respective 24-hour low and high values are $0.000114 and $0.000121. The trading volume, however, has declined over the past twenty-four hours.<\/p>\n\n\n\n

In contrast, the price of USTC has increased by 350% this week and is now trading at $0.51. The 24-hour moving average\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> is $0.055, while the 24-hour minimum is $0.050.<\/p>\n","protected":false},"excerpt":{"rendered":"

Binance exchange burns the sixteenth shipment of Terra Luna Classic (LUNC) tokens, totaling nearly 4 billion, bringing the total number of LUNC destroyed by the exchange to over 43 billion, representing 52% of the total tokens burned by the Terra Luna Classic community. The transaction from December 1 indicates that cryptocurrency exchange Binance transferred 3.90 […]<\/p>\n","protected":false},"author":12,"featured_media":51226,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[834],"tags":[5521,6649,14965,9704],"class_list":["post-66078","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-binance","tag-binance-2","tag-crypto-burning","tag-terra-luna-classic","tag-lunc"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/06\/image.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/66078","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=66078"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/66078\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/51226"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=66078"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=66078"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=66078"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}