Binance Burns 1.4B Terra Classic (LUNC) in One Go

Binance continues to support the Terra Classic community, incinerating a whopping 1.45B LUNC in its August burn event.

LUNC’s total supply has recorded another huge decrease. The recent reduction in Terra Classic’s total supply was courtesy of Binance, the world’s largest crypto exchange by trading volume.

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On-chain data showed that exactly 1,412,760,563 LUNC was burned by the exchange on Tuesday at I:36 PM UTC. This burned amount represented 50% of Binance’s trading fees on LUNC spot and margin trading pairs accumulated between June 30 and July 30.

According to the updated announcement, the total trading fee during this period was equivalent to 121,850.96 USDT. The exchange further indicated that the next LUNC burn event would occur in September.

Binance LUNC Burns

Binance’s latest LUNC burn was significantly lower than the previous burn. As reported by The Crypto Basic, 2.6 billion LUNC tokens were incarcerated by the top exchange in its 11th burn campaign. Meanwhile, it burned roughly 1.044 billion LUNC in June.

The exchange has sealed its position as the top LUNC burn contributor with these hefty monthly burns. At press time, the total number of tokens burned since May 2022 stood

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