Binance Burns 222 Million Terra Luna Classic (LUNC) Tokens
Binance sparks buzz with massive LUNC token burn - 222 million LUNC gone in 16 wallet-to-wallet transactions on May 8.
People think Binance might control all 16 wallets. They think it could be to get more people to stake their tokens on Terra Luna Classic.
239 million LUNC burned in an hour, hinting at a planned operation. The wallets hold over 400 billion LUNC.
Binance burned 1.4 billion LUNC tokens, making the total burned tokens over 59 billion. Traders responded slowly at first but eventually showed a big reaction.
Despite a 1% dip post-burn and Bitcoin's 10% correction, trading volumes surge by 123%, indicating heightened trader interest.