Terra Luna Classic Striving to Achieve the Impossible / Lunc Coin Analysis
1 year ago
Terra Classic
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As the Terra Luna Classic community takes dramatic steps to achieve the impossible, current data shows that success is not behind Mount Kaf.
Burns, Increased! Supply Drops Below Critical Level!
According to current data, the number of LUNC burned in the past few days has skyrocketed. As of November 12, 27.1 billion LUNC had been burned. In just six days, 1 billion LUNC was burned. As of today, the total number of tokens burned has reached 28.01 billion. The updated figures were shared by the community-focused Twitter account LunaBörn13, which monitors all LUNC burns. Along with the number of tokens burned, Terra Classic community members also staked a massive total of 880.4 billion LUNC. According to the Twitter account, the number of LUNC staked accounts for 12.79% of its total supply. The LUNC resurgence campaign has been very successful in reducing the number of tokens in circulation. According to CoinMarketCap data, LUNC's circulating supply is currently down to just under 6 trillion. LUNC's circulating supply currently stands at 5,997 trillion.
Most of the LUNCs were burned thanks to the 0.2% tax/burn mechanism applied to all on-chain transactions. There was also a significant increase in trading volume after the new implementation, with Binance, LUNCDAO and other organizations contributing significantly to the ongoing LUNC burn campaign. Binance remains a major player with the most LUNC burns. Of the total 28.01 billion tokens burned, approximately 13.7 billion were burned by Binance.
The world's largest cryptocurrency exchange carried out LUNC burns with fees from LUNC trading activities on the platform.
After Binance completed its fifth LUNC burn on October 31st, the exchange announced that it is changing its LUNC burn schedule to monthly. Based on this decision, Binance's next LUNC burns are scheduled for December 2.
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