Cremation Coin Burns 51M+ Terra Classic, the Third Largest Burn This Year.
The project’s total cumulative burn has skyrocketed to 93.6 million LUNC tokens.
Cremation Coin just burned over 51 million Terra Classic (LUNC) tokens in a single transaction, representing its largest single burn since it jumped on the Terra Classic burn campaign last December.
Terra Finder data reveals that the transaction occurred today at 03:49 and puts the total incinerated amount at a whopping 51.7 million LUNC. The burn represents Cremation Coin’s weekly contribution to the Terra Classic burn initiative.
The team behind the project called public attention to the development shortly after carrying out the transaction.
Alright, everyone, we just burned 51.7M #LUNC and 2.1B #CREMAT!!
We jumped up from number 17 to number 8 on the #luncdash chart! 🤯
Thank you to everyone who supports us! If we work together, we can accomplish anything. I truly believe this. #lunccommunity #luncarmy $lunc pic.twitter.com/R0h3zpwMV8
— Cremation Coin 🔥Weekly LUNC Burns🔥 (@Cremation_Coin) March 7, 2023
Following its latest significant burn, Cremation Coin has secured the eighth spot among the largest LUNC burners indexed by LUNC Dash. Presently, the project’s overall cumulative token burns stand at 93.6 million. It is worth noting that due to the delayed indexing of its address, LUNC Dash data only accounts for 81.4 million tokens burned.
Since pledging its support for the Terra Classic burn initiative, Cremation Coin has converted 10% of its transaction volume to LUNC and incinerated millions of tokens weekly. Last week, the project burned 4.4 million tokens, the largest burner for the week.
The recent 51 million burn transaction is the third largest single burn transaction witnessed by the Terra Classic community this year, behind the Allnodes burn of 123.7 million tokens on New Year’s Day and the recent Binance burn of 8.8 billion tokens.
Total burns so far this week now sit at 53.5 million LUNC. Independent validator LUNC DAO has also made its mark on the burns for the week, incinerating up to 1.67 million tokens at the start of the week.
In the wake of the latest burns, the Terra Classic burn initiative has now resulted in the incineration of 48.7 billion tokens, with Binance accounting for 28.9 billion tokens, representing 59.3% of total burns.