The world’s largest crypto exchange Binance on Saturday burned 1.35 billion Terra Luna Classic tokens in the 22nd batch of its LUNC burn mechanism, continuing its support to the Terra Classic community.

Binance’s total LUNC burn to date has now surpassed 60 billion, accounting for more than 52% of the total LUNc burned by the Terra Luna Classic community.

Binance Sends 1.35 Billion Terra Luna Classic To Burn Address

Crypto exchange Binance sent 1.35 billion Terra Luna Classic (LUNC) tokens to the burn address, as per the LUNC burn transaction on May 1.

The 22nd batch of the LUNC burn mechanism Binance burned a significant amount of trading fees for the period between April 30 to May 29. Binance has now burned nearly 60.42 billion Terra Luna Classic (LUNC) tokens from trading fees on LUNC spot and margin trading pairs.

Last month, Binance burned 1.4 billion Terra Luna Classic (LUNC) tokens. The exchange burned 1.40 billion in trading fees on LUNC spot and margin trading pairs worth $156,362 as trading volumes fell significantly in April. A similar decline in trading volumes was recorded in May as daily LUNC trading dropped with prices mostly traded sideways near $0.00012.

Also Read: Top Meme Coins To Buy Now After This Move By Binance

The post Breaking: Binance Burns 1.35 Billion Terra Luna Classic, Total Burn Hits 60 Billion appeared first on CoinGape.

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Filed under: News - @ June 1, 2024 1:08 pm