The world's largest crypto exchange, Binance, has started burning 1.7 billion Terra Luna Classic (LUNC) tokens in the latest transaction to burn wallets on Monday. After the 23rd batch of LUNC burning mechanism, Binance has burned nearly 62 billion LUNC so far.
Additionally, the total number of LUNC tokens burned by the Terra Luna Classic community has reached more than 125 billion. Binance continues to support this community for the recovery of Terra Luna Classic since 2022 through the monthly LUNC burning mechanism.
The Terra Luna Classic community saw 1.7 billion Terra Luna Classic (LUNC) tokens burned by crypto exchange Binance, based on a July 1 burn transaction. The burning transaction also recorded 8.5 million LUNC in taxes. The expected implementation of Tax2Gas this month will increase the burning narrative.
The 23rd batch of LUNC burning mechanism by Binance burned a large amount of trading fees for the period between May 31st and June 29th. Binance has now burned nearly 61.99 billion Terra Luna Classic (LUNC) tokens from trading fees on spot trading pairs and LUNC margin.
In the 22nd LUNC burning mechanism, Binance burned 1.35 billion Terra Luna Classic (LUNC) tokens. The exchange burned 1.35 billion in trading fees on spot trading pairs and LUNC margin was worth $170,104.
Spot and derivative traders did not respond to the last LUNC burning mechanism by Binance such as the Terra Luna Classic ecosystem token to reduce recent gains.
The price of LUNC has increased by 1% in the last 24 hours, with the price currently trading at $0.00008148. Additionally, trading volume has increased by 28% in the past 24 hours, indicating increased interest among traders.
Meanwhile, the price of USTC rose 2% in the last 24 hours, with the price currently trading at $0.01796. The 24-hour low and high are $0.01759 and $0.01835, respectively. Trading volume has decreased by 6% in the last 24 hours.