Cryptocurrency exchange Binance sent over 736 million LUNC tokens to a burn address, according to a burn transaction on February 1. This was one of the lowest burns by the exchange since it launched the LUNC burn mechanism to support the Terra Luna Classic community. In the 30th batch of the LUNC burn mechanism, the crypto exchange burned $87,923 in trading fees between December 31 and January 30. This brings the total amount of LUNC burned by the exchange to 70.85 billion LUNC tokens, according to the burn tracker.
Notably, Binance burned 1.7 billion LUNC tokens the previous month after a huge trading volume in response to Terraform Labs’ bankruptcy and token burn. The burning campaign has reached another milestone as the total amount of LUNC burned by the community has surpassed 400 billion. Community members are optimistic about the resurgence of Terra Classic.
The price of LUNC is falling and at the time of writing, LUNC is trading at $0.00005883. Terra Luna Classic trading volume has increased by 25% in the last 24 hours, indicating increased interest among traders. Analysts are still confident of a rise to $0.0005.
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