Binance has burned 1.4 billion LUNC tokens in its 12th batch of burns, reducing Terra Classic's total supply to less than 6.84 trillion. The burn event represented 50% of Binance's trading fees on LUNC spot and margin trading pairs accrued between June 30 and July 30. The next LUNC burn event is scheduled for Sept. 2, and the Terra Classic community hopes that these frequent burns and the planned USTC repeg will aid LUNC's price in the long run. LUNC is currently trading at about $0.00008, up from less than $0.00005 following its May collapse but still far below its all-time high of roughly $0.000018 earlier this year.
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Binance Burns 1.4 Billion LUNC in Latest Token Burn Event
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