2nd Day Of Burning Of Terra Luna Classic (LUNC) With 380 Million Tokens Destroyed

Terra Luna Classic (LUNC) Destruction

✍️ 23 September, 2022 - 6:19 👤 Editor: Jakub Motyka

  • It is already the second day that the Terra Luna Classic (LUNC) burning tax is active, which is applying a 1.2% tax on all operations carried out on the Terra Classic network.
  • On this second day, the burning of tokens has skyrocketed to 380 million LUNCs burned.
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While the first day of the LUNC burn got off to a fairly cold start, it looks like the Terra Luna Classic (LUNC) burn is finally starting to heat up. On the second day after the implementation of the 1.2% burn tax, the cryptocurrency LUNC has seen a much more significant part of its supply destroyed.

As revealed by the Terra Luna Classic (LUNC) burn tracker, on September 22 there was a significant increase in LUNC burning. If on the first day only 80 million LUNCs were burned, on the second day this figure shot up over 380 million.

380,650,755 LUNCs Burned On The Second Day Of The Terra Luna Classic (LUNC) Tax

During the day of yesterday, September 22, 380,650,755 LUNC tokens were destroyed, thus becoming one of the days of greatest burning so far in history. month. At the current market price of LUNC cryptocurrency, this equates to a burn valued at over $100,000.

LUNC Burn September 22 2022
Graph with the detailed Terra Luna Classic (LUNC) burning during yesterday, September 22, 2022.

Thus, the total supply of Terra Luna Classic crypto tokens at the time of writing this news stands at 6,902,736,959,818 LUNC. The former stablecoin of the project, TerraClassicUSD (USTC), curiously, not only has its supply not decreased, but also yesterday saw the supply of USTC increase by 1,640,647 tokens.

Terra Luna Classic (LUNC) Price Does Not React To The Token Burning

Whether due to Do Kwon is on the run, or because its price had discounted the burning of tokens for a long time, the truth is that the Terra Luna Classic (LUNC) price is not reacting positively to supply destruction. Its value at the time of writing this news is $0.0002662, a drop of 5.35% compared to the last 24 hours.

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Juan Pais

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