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Binance Conducts Extra Terra Luna Classic (LUNC) Token Burning following Monthly Burn Event

Exciting news from the world of cryptocurrency! Binance, the world’s largest crypto exchange, has just completed its 21st batch of burning Terra Luna Classic (LUNC) tokens. This time, they burned a staggering 1.4 billion LUNC tokens, bringing the total amount burned by Binance to over 59 billion.

But that’s not all! The Terra Luna Classic community has also been active, burning over 113 billion LUNC tokens collectively. Binance has been a major supporter of the community’s efforts to rejuvenate Terra Luna Classic since 2022 through their monthly LUNC burn mechanism.

Exciting Updates on Terra Luna Classic (LUNC) Burns

Recently, Binance carried out a LUNC burn transaction, sending 56,911 LUNC tokens to the burn address. This was done shortly after their monthly burn, a trend we’ve seen consistently over the past few months. The reasons behind these smaller burn transactions remain a mystery to us.

Back in May, Binance burned a whopping 4.17 billion Terra Luna Classic (LUNC) tokens. With this latest burn, the total amount of LUNC tokens burned by Binance from trading fees on LUNC spot and margin trading pairs now stands at a remarkable 59.07 billion.

In previous months, Binance conducted similar burn events, with over 100K LUNC tokens burned within days after a large burn of 4.17 billion LUNC tokens.

Despite a decline in overall trading volume due to the recent dip in crypto prices and reduced trader interest, there’s still hope! In March, LUNC experienced massive trading volumes exceeding $100 million daily while prices soared past $0.0002. In April, daily trading volumes averaged $30 million, and prices took a dip to $0.0001. The market cap also saw a drop from over $1 billion.

Exciting Developments for LUNC and USTC Tokens!

The broader crypto market is witnessing a positive trend, and the Terra Luna Classic ecosystem tokens are part of this upward movement. Factors like stabilizing CPI inflation data and increased inflow into bitcoin ETFs have revived investor confidence in the market.

As an example of this positive trend, LUNC’s price has surged by over 6% in the last 24 hours, now trading at $0.0001092. Its 24-hour high and low stand at $0.0001017 and $0.0001096, respectively. Moreover, trading volume has risen by 28% in the past 24 hours, indicating strong buying activity. CoinGape Markets’ analysis predicts a target price of $0.0005 for LUNC.

Another token, USTC, has also seen a 5% increase in its price in the last 24 hours, reaching $0.0222. With its 24-hour low and high at $0.02083 and $0.02237, respectively, USTC is also on the rise.

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