Terra Luna Classic Volume Hits $400 Million Piggy Backing on Binance Token Burn
Terra Luna Classic has become one of the most traded crypto assets in the market in the last three weeks, with its trading volume clocking $400 million. Behind LUNC’s spiking volume is the Binance exchange.
The CEO of the largest cryptocurrency in the world, Changpeng Zhao (CZ), announced a Terra Luna Classic token burn undertaking on September 26. CZ outlined that trading fees (from spot and futures) would be sent to an unrecoverable wallet address – where they will be removed from the token’s circulating supply.
As reported on Thursday, the token burn, scheduled to start every Tuesday, got rid of 5.5 billion LUNC tokens in the week that ended October 3. Another 2.9 billion LUNC tokens were burned in the week that started on October 4 and ended on October 10.
Investors have continued to flock to Binance exchange in droves, hoping to see Terra Luna Classic price lift from the abyss. LUNC price more than...
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