Binance Burns 1.7 Billion LUNC Tokens in Latest Burn Event
- The exchange has burnt over 62 billion LUNC so far in total, after the 23rd batch.
- Binance burnt 1.7 billion Terra Luna Classic (LUNC) tokens in the recent burn event.
In Mondays most recent burn event, crypto exchange, Binance, burnt 1.7 billion Terra Luna Classic (LUNC) tokens. The exchange has burnt over 62 billion LUNC so far, after the 23rd batch of the LUNC burn mechanism.
According to the burn transaction that took place on July 1, Binance burnt 1.7 billion Terra Luna Classic (LUNC) tokens. The tax for the burn transaction was 8.5 million LUNC. The burn narrative is anticipated to be bolstered by the rollout of Tax2Gas this month.
Strong Support to Revive LUNC
In addition, the Terra Luna Classic community has burnt more than 125 billion LUNC tokens in total. Since its monthly LUNC burn mechanism began in 2022, Binance has maintained its support for the communitys efforts to revive Terra Luna Classic.
The 23rd LUNC burn mechanism batch Between May 31 and June 29, Binance burnt an immense amount of money in trading fees. Trading fees on the LUNC spot and margin trading pairs have caused Binance to burn over 61.99 billion Terra Luna Classic (LUNC) tokens.
The total burnt by the Terra Luna Classic community has risen beyond 125 billion LUNC due to Binances most recent burn. More than half of all LUNC burnt after the community gained control of the chain has been traded on Binance. Fewer transactions are the explanation for the low burn amount compared to the community.
Binance burnt 1.35 billion Terra Luna Classic (LUNC) tokens in the 22nd LUNC burn mechanism. For LUNC spot and margin trades, the exchange gave over $170,104 in trading fees for the 22nd batch.
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Read more: https://thenewscrypto.com/binance-burns-1-7-billion-lunc-tokens-in-latest-burn-event/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
