Binance Burns 4B Terra Luna Classic (LUNC) Tokens
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 […]
What Is Cryptocurrency Burning And Why Is It Important
Burning a financial asset might sound like a crazy thing to do, but it happens all the time with crypto tokens. In this article, we would expound on what cryptocurrency burning is all about and what its importance is. What is cryptocurrency burning? Cryptocurrency burning is the process of withdrawing coins from a cryptocurrency’s total […]
SHIB Burn Rate Spikes 1,494%, Here’s a likely explanation
Shiba Inu’s burn rate rose 1,494% in 24 hours. Shibburn, a site that follows Shiba Inu’s burn implementation and statistics, shows that SHIB token destruction has accelerated. The Shibburn website says that on the last day, the rate at which Shiba Inu meme coins were burned went up by a huge 1,494%. Compared to the […]
Binance’s First Quarterly Auto-Burn Removed Over 1.6B BNB
Binance intends to replace its native token’s quarterly burn with a new mechanism called BNB Auto-Burn. The burn took 1,684,387.11 BNB, according to a Binance blog post. That’s $798,887,962 in tokens at the time of writing. Through the Binance Pioneer Burn program, which counts BNB delivered to dead wallets, 6296 of those coins were ‘effectively’ […]