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Terra Classic Community Burns 150 Million LUNC Without Binance

The Terra Classic community aims to burn large amounts of LUNC tokens to reduce its circulating supply and revive its price to satisfactory levels. The community has burned almost 29 billion LUNC tokens in the last few months after Terra Rebels pushed the burn rate by implementing the v22 upgrade, ultimately introducing staking and the 1.2% burn tax.

With crypto exchange Binance announcing a shift to LUNC burn mechanism on the monthly basis, the Terra Classic community burned nearly 150 million LUNC tokens in November.

Binance burned almost 13.712 billion LUNC tokens from trading fees on LUNC spot and margin trading pairs in October. 

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