Binance Burned Over 5 Billion Terra Luna Classic (LUNC)

2 years ago · Updated 7 months ago

✍️ 27 December, 2023 - 16:04 👤 Editor: Jakub Motyka

Binance released the result of its first Terra Luna Classic (LUNC) burn round today.
The exchange disclosed how many LUNCs they have burned on spot and margin trades of this cryptocurrency. The amount is huge: 5,595,907,838 LUNC.

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Since Binance accepted the Terra Luna Classic (LUNC) burn, the cryptocurrency exchange had promised to publish today, October 3, the results of the LUNC burning in spot and margin trading operations. At this time, Binance has just sent to the destruction wallet the result of this burning campaign: 5,595,907,838 LUNC.

Although it was one of the last exchanges to accept it, Binance finally gave its go-ahead to apply the 1.2% burn tax on all operations with the Terra Luna Classic (LUNC) cryptocurrency. In this way, the exchange has assumed the cost of burning 1.2% of the trading fees of LUNC in the purchase/sale operations in the markets. spot and margin.

Binance Publishes Today The First Result Of The Terra Luna Classic (LUNC) Burn Campaign: More Than 5 Billion Tokens Destroyed

In this first round, Binance has burned 1.2% of all trading commissions of Terra Luna Classic (LUNC) in the spot and margin markets for operations that have taken place between September 21 and October 1st, 2022.

As the following table reflects, today has been the day that Binance announced how many LUNCs have been burned in this process:

	Period of Calculation (UTC)	Trading Fees on LUNC Spot and Margin Trading Pairs (LUNC)	Trading Fees on LUNC Spot and Margin Trading Pairs (USDT Equivalent)	Burn Transaction ID
Batch 1	2022-09-21 00:00:00 - 2022-10-01 23:59:59	5,595,907,838 LUNC	$1,844,411	To be announced on 2022-10-03 (UTC)

Chart with the burning of Terra Luna Classic (LUNC) on Binance.

Binance has burned over 5.5 billion LUNC tokens, the equivalent of over $1.8 million worth of Terra Luna Classic cryptocurrency.

The Price Of Terra Luna Classic (LUNC) Today Falls 10.02% In The Last 24 Hours

The price of Terra Luna Classic (LUNC) today accumulates a fall of 10.02% in the last 24 hours, with a price that at the time of writing this news is $0.000319. It should be remembered that the maximum monthly price of this crypto in the last 31 days has been $0.0005888, and its minimum was $0.0001825.

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Juan Pais

E-mail: juan@criptokio.com

ES: Por mi trabajo de redactor siempre he escrito para otros temas pero la verdad es que a día de hoy lo que más me apasiona es el tema de las criptos. Tengo conocimientos tanto en criptomonedas y wallets como de airdrops y exchanges.

Poseo wallet en Coinbase y Trust Wallet, y cuentas en una variada cantidad de exchanges como Satoshi Tango, Binance, Crypto, Ripio, entre otras.

EN: EN: Because of my work as an editor I have always written for other topics but the truth is that today what I am most passionate about is the topic of cryptos. I have knowledge in both cryptocurrencies and wallets as well as airdrops and exchanges.

I have a wallet in Coinbase and Trust Wallet, and accounts in a variety of exchanges such as Satoshi Tango, Binance, Crypto, Ripio, among others.