Token

Terra Classic

Terra

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/binance-burns-tokens-spikes-lunc-prices" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance Burns Tokens, Spikes LUNC Prices</a><br></p>
<p style="text-align: justify">In a significant move for the cryptocurrency market, <a href="https://en.bitcoinhaber.net/binance-resumes-trading-for-the-euro-based-stablecoin-aeur-after-unusual-price-movements" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a>, a leading global exchange, has executed its 26th <a href="https://en.bitcoinhaber.net/investors-back-pepe-price-recovery" data-wpel-link="internal" rel="noopener noreferrer nofollow">token</a> burn, incinerating 1.14 billion Terra Luna Classic (LUNC) tokens. This strategic action has spurred a market rally, with prices for both LUNC and USTC surging over 10% following the announcement.</p>
<h2 style="text-align: justify" id="how-does-binance-s-token-burn-work">How Does Binance’s Token Burn Work?</h2>
<p style="text-align: justify">Since the collapse of Terra, Binance has maintained a monthly schedule for burning LUNC tokens. This latest burn marks a substantial step in their ongoing efforts, with the recent destruction leading to a notable uptick in market prices for LUNC and USTC.</p>
<h2 style="text-align: justify" id="what-impact-did-this-have-on-prices">What Impact Did This Have on Prices?</h2>
<p style="text-align: justify">Diamondhandz, one of the LuncLive validators, praised Binance CEO Changpeng Zhao for their unwavering support. This positive sentiment underscores the community’s hope for revitalizing the Terra Classic ecosystem.</p>
<ul>
 <li>1.14 billion LUNC tokens burned in the latest event.</li>
 <li>Price of LUNC and USTC increased by over 10%.</li>
 <li>Frequent token burns have escalated in recent months.</li>
</ul>
<p style="text-align: justify">The ongoing strategy of burning tokens aims to enhance demand by limiting supply. However, the Terra Classic ecosystem faces a daunting challenge, as reducing a total supply of 6.7 trillion tokens could take decades to achieve.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/binance-burns-tokens-spikes-lunc-prices" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance Burns Tokens, Spikes LUNC Prices</a></h5>

Binance Burns Tokens, Spikes LUNC Prices

Table of Contents

BH NEWS

Other articles published on Oct 2, 2024

Indiana Man Pleads Guilty to $37M Crypto Crime, Faces 20-Year Sentence

Qubetics offers Secure and Faster Cross-Border Settlements

Shiba Inu Elliott Wave Analysis: 987% Price Surge Predicted

Marathon Invests in AI Infrastructure, Combining AI Workloads with Bitcoin Mining to Stabilize En...

Relational Blockchain Chromia Backs Elfa AI To Advance AI-Powered Crypto Market Insights

Analyst Highlights TAO Coin and 5 Altcoins as Top Performers!

Join our free newsletter for daily crypto updates!