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HomeCrypto NewsMarketTerra Classic Burns Exceed 27B with Total Staked LUNC Surpassing 850B

Terra Classic Burns Exceed 27B with Total Staked LUNC Surpassing 850B

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Terra Classic (LUNC) burns have cumulatively exceeded 27 billion tokens, with total tokens staked surpassing 850B.



The campaign to revive Terra Classic (LUNC) asset remains on track, as the community has witnessed a total cumulative burn of 27.1B LUNC tokens since the campaign kicked off, with total staked tokens amounting to 852.3 cumulatively.

The exciting achievement was highlighted by “LUNC Burn” – an unofficial community-driven Twitter handle that tracks LUNC burn transactions. “Total burned $Lunc: 27.1b,” the handle noted in a tweet Saturday, as it shared more insight on the state of the asset’s supply.

It was also revealed that 208.61M tokens had been burnt in the past 24 hours, following the 0.2% rate adjustment. In addition to the 27.1B LUNC already burnt, investors have staked up to 852.3B LUNC tokens, the handle revealed. The staked tokens represent 12.38% of the asset’s total supply of 6.8 trillion.

 

Out of the total supply of 6.8 trillion tokens, 86.7%, which amounts to 5.9 trillion LUNC represents the asset’s current circulating supply.

Binance, in particular, has been contributing the most to support the community’s burn campaign. However, regarding its off-chain burns, the exchange switched from a weekly report to a monthly basis after its fifth batch of burns. Validators Allnodes and LUNCDAO have also been active in effecting burns burning 30M and 22M LUNC, respectively, on OCT 24.

Binance’s latest batch reported a burn of 1.2B LUNC on October 31. The next report is slated for December 2. Besides the LUNC burns, CZ recently revealed that Binance retains its Terra Classic holdings.

As several ideas come in from all angles to introduce more effectiveness in the revival campaign, The Crypto Basic recently reported a suggestion from Terra Classic developer Alex Forshaw which would concurrently burn $2M worth of LUNC.

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Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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