The Terra Luna Classic (LUNC) community reached a significant milestone in its ongoing burn campaign, having reached 95 billion LUNC since May 2022.
The community’s collaborative efforts to reduce the number of circulating LUNC tokens have reached another significant milestone, with Binance contributing over 51.7% of the total burn, or around 50 billion LUNC.
Binance’s commitment to the LUNC burn mechanism entails monthly transfers of billions to the burn address, making it a significant contributor, exceeding the 50 billion LUNC mark.
Binance burned 5.57 billion tokens in the most recent round (17th) of the LUNC burn mechanism, bolstering its position in the ongoing campaign.
This accomplishment is the result of a collaborative effort among cryptocurrency exchanges, validators, projects, and community members.
The Terra Luna Classic burn campaign has seen a significant increase in its average weekly LUNC burn, reaching 600 million since November.
With a total of 6.81 trillion LUNC tokens in circulation, 5.78 trillion of which are currently in use, the community is focused on increasing utility, securing financing, and advancing development to meet the growing LUNC burn rate.
