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LUNC Tokens Burns 16 Million By Terra Classic Project

  • The Cremation Coin project burned 16,455,507 Terra Classic (LUNC) tokens in January, the third-largest burn.

  • Cremation Coin tweeted about the burn transaction and neighbourhood commitment. However, community cooperation is needed to burn billions of LUNC tokens.

01-Feb-2023 By: Rohit Tripathi
LUNC Tokens Burns 16

The third-largest burn of Terra Classic (LUNC) tokens in January was carried out by the Cremation Coin project, which delivered 16,455,507 LUNC coins to the burn address.

Tuesday saw the Cremation Coin project for Terra Classic burn 16,455,507 LUNC coins. The newly created project has burned more than 28.6 million LUNC tokens in less than a month with the most recent burn. After cryptocurrency exchange Binance temporarily paused its LUNC burn mechanism until March, validators and projects operating on the Terra Classic network agreed to burn millions of LUNC tokens.

16 million Terra Classic (LUNC) tokens are burned by the cremation coin.

The third-largest LUNC burn transaction this month was submitted by Cremation Coin, a newly-launched project, who sent 16,455,507 Terra Classic (LUNC) tokens to the burn address.

With more than 123 million LUNC tokens burned on January 1, Terra classic validator Allnodes took the lead in the total. The TerraCasino project, which burned more than 26 million LUNC tokens in two transactions (18 million on January 1 and 8 million on January 9), comes next.

In response to calls for the burn rate to be increased, the Terra Classic community burnt more than 226 million LUNC tokens in total in January. Additionally, the community has burned almost 38 billion LUNC coins in total. Furthermore, with a staked supply ratio of 13.14 percent, the total number of LUNC tokens staked has surpassed 903 billion.

On Twitter, Cremation Coin posted about the burn transaction and highlighted the dedication to the neighbourhood. The initiative, however, pledges to burn billions of LUNC tokens and depends on community support. Every week, 10% of the project's entire transaction volume is expected to be burned in LUNC.

16,455,507 more LUNC are gone! Excellent work, but we can improve! Everyone needs to be discussing the potential of this initiative! Coming soon are a new website, an AMA tomorrow, and stakes! Before it takes off, you'd better get on.

The project has burned a total of 28,694,091 LUNC, making it the 19th largest burner on the LUNC Penguins portal. However, a previous burn of 12 million LUNC was not included because to technical issues. More than Terra Classic influencer Classy Crypto, the Cremation Coin is currently the 23rd largest LUNC burner.

The price of LUNC is currently $0.0001724, up 4.75% over the previous day. Over 40% more trading has occurred in the past 24 hours.

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