Friday, December 9

Binance Exchange Remains Committed To Its Promise To LUNC Network As It Burns Over 2.5 Billion LUNC Tokens

As Binance is known for its strong supporting act, it has shown it again as it burns a whopping 2.5B Terra Classic (LUNC) tokens ($659K+) in its third batch of weekly off-chain burns.

The low trading volume has not made the largest crypto exchange grow wearied as it has vouched to fulfilled its word towards the LUNC burn.

Read Also: LUNC Community Waxes Stronger In Its Support For LUNC Project As An Anonymous User Support Terra Rebel With Over $19,000

Binance Third Weekly Burns

Per the LunaBurnTracker, “Burn alert! 2,500,382,131 LUNC ($659,051) burned to Luna Burn Wallet,” the handle noted in a tweet Monday, as a link to the burn transaction was shared.

The transaction record shows that the recent Binance LUNC burn happens exactly on October 17, 1:38 PM (GMT+1). Despite not explicitly ascribing the burn to Binance, the sheer magnitude of the transaction and the time of occurrence point to the exchange.

Binance’s Total Burns Hits 11 Billion

This burn placed the total Binance Burn to 11 billion points in just three weeks. For instance, the first-ever Binance burn claimed a total of 5.5 billion which was not that pleasing to the LUNC community and following this was the almost 3 billion burn.

Read Also: Allnodes Burns Over 56 Million LUNC Tokens And Plans To Initiate Weekly LUNC Burns Till The End Of 2022

Binance will soon update its official announcement page on the LUNC burn transactions before long, as initially promised.

Although Binance is one of the exchanges that added its support to the LUNC tax burn at the moment, the exchange takes the lead in the LUNC tax burn.

Per the recent Cryptolifedigital report, the LUNC network becomes the 60th largest in terms of TVL.


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