Burn

Terra Classic

Token

Billion Token

Terra

<p><strong><a href="https://www.thecoinrepublic.com/price-prediction/bnb/">Binance</a></strong>&nbsp;has recently carried out another massive burn of Terra Classic (LUNC) tokens, erasing 1.15 billion tokens from the market. This action on August 1 involved sending tokens from wallet “terra18…24sqe” to a dead address as a continued effort to control the huge supply of Terra Classic.</p> 
<p>This process was done in a single transaction and was noted by the community-based tracking service Luncmetrics. However, there has been no significant effect on the market value of LUNC as the token trading price declined</p> 
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f433.png" alt="🐳" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/LUNCBURN?src=hash&amp;ref_src=twsrc%5Etfw">#LUNCBURN</a> ALERT <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f433.png" alt="🐳" class="wp-smiley" style="height: 1em; max-height: 1em;"> <br><br>1,149,430,203 <a href="https://twitter.com/hashtag/LUNC?src=hash&amp;ref_src=twsrc%5Etfw">#LUNC</a> was just incinerated. Thanks to <a href="https://twitter.com/binance?ref_src=twsrc%5Etfw">@Binance</a> for the <a href="https://twitter.com/search?q=%24LUNC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LUNC</a> contribution!<br><br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/Rkgp6GTGlB">https://t.co/Rkgp6GTGlB</a><br><br>Total <a href="https://twitter.com/hashtag/LunaClassic?src=hash&amp;ref_src=twsrc%5Etfw">#LunaClassic</a> Burn is now: 127,114,318,777<br><br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2764.png" alt="❤" class="wp-smiley" style="height: 1em; max-height: 1em;"> Like and <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f503.png" alt="🔃" class="wp-smiley" style="height: 1em; max-height: 1em;"> Retweet to show your support!<a href="https://twitter.com/hashtag/LUNCcommunity?src=hash&amp;ref_src=twsrc%5Etfw">#LUNCcommunity</a> <a href="https://twitter.com/hashtag/LUNCarmy?src=hash&amp;ref_src=twsrc%5Etfw">#LUNCarmy</a> <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a></p>— LUNC BURN TRACKER (@LUNCMetrics) <a href="https://twitter.com/LUNCMetrics/status/1818932001791262903?ref_src=twsrc%5Etfw">August 1, 2024</a>
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<h2 class="wp-block-heading" id="h-comparison-of-recent-terra-classic-burns"><strong>Comparison of Recent Terra Classic Burns</strong></h2> 
<p>This latest burn is equivalent to half of the total transaction fees earned from&nbsp;<strong>LUNC</strong>&nbsp;trading on Binance in the entire month of July. This ongoing strategy comes after Binance’s decision to burn 50% of trading fees collected from LUNC transactions every month. On the other hand, the last month recorded the burning of 1.7 billion tokens by Binance.</p> 
<p>The reduction in the amount in August may indicate a change in the trading volume or a deliberate change in the burn rate. Since May 2022, Binance has burned over 63 billion&nbsp;<a href="https://www.thecoinrepublic.com/2024/05/08/terra-classic-price-trading-in-triangle-pattern-what-next/">LUNC tokens</a>, which is roughly half of the total tokens burned in Terra Classic’s excess token supply.</p> 
<p>Concurrently, within the Terra Classic community, an additional 1,000,000 LUNC tokens were burned today, contributed by&nbsp;<a href="https://www.luncmetrics.com/top-burners/terracasino">TerraCasino_io</a>. This event was also recorded in Luncmetrics under the top burners list, which indicates the continuous work being done to reduce LUNC’s supply.</p> 
<p>The total amount of LUNC tokens that have been burned has now increased to 128,337,956,770. These community initiatives are closely related to the major burns by exchanges like Binance. They demonstrate the approach of the community to the management of the token’s supply.</p> 
<h2 class="wp-block-heading" id="h-market-impact-and-token-circulation"><strong>Market Impact and Token Circulation</strong></h2> 
<p>Even with Binance’s aggressive burning, Terra Classic still has a large circulation of over 5.44 trillion LUNC tokens. This high supply continues to affect the LUNC value in the market since the price of LUNC remains at around $000007393. At the time of writing, the price continues to fall with a 2.8% drop in the last day.</p> 
<p>The previous large burns including the 4.17 billion tokens in April and a record 5.5 billion in January also failed to produce sustainable positive price movement for LUNC.</p> 
<h2 class="wp-block-heading" id="h-binance-whale-activity-and-market-movements"><strong>Binance Whale Activity and Market Movements</strong></h2> 
<p>In related market activities, a whale moved 400 billion PEPE tokens to&nbsp;<a href="https://www.thecoinrepublic.com/2024/07/31/bitcoin-whale-alert-4500-btc-moved-from-binance-to-trigger-a-rally/">Binance</a>. This move has led to PEPE prices falling by 4.25% in the last 24 hours. This trend is in line with the current market condition whereby meme coins are under selling pressure. The situation has seen PEPE price drop by 20.72% in the previous week.</p> 
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   <p lang="en" dir="ltr">A whale deposited 400B <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PEPE</a>($4.22M) to <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> to take profits in the past hour.<br><br>The whale withdrew 795.92B <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PEPE</a>($2.55M at the time) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> on Mar 1 and currently has 395.93B <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PEPE</a>($4.18M) left.<br><br>His total profit on <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PEPE</a> is $5.85M, the ROI is 230%!… <a href="https://t.co/o7T1ihjoq9">pic.twitter.com/o7T1ihjoq9</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1818934161417367749?ref_src=twsrc%5Etfw">August 1, 2024</a>
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<p>Binance remains a significant player in the decrease of Terra Classic token supply through its regular burning events. The current burns, though significant, have not had a major impact on changing the LUNC market.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/08/03/terra-classic-lunc-struggles-despite-binances-1-15-billion-token-burn/">Terra Classic (LUNC) Struggles Despite Binance’s 1.15 Billion Token Burn</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Terra Classic (LUNC) Struggles Despite Binance’s 1.15 Billion Token Burn

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