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HomeCrypto NewsMarket30M Terra Classic (LUNC) Burned in One Transaction

30M Terra Classic (LUNC) Burned in One Transaction


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Cremation Coin is now 30 million tokens away from overtaking Allnodes as the sixth-largest LUNC burner on LUNCDash.

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Cremation Coin has burned a whopping 30.6 million Terra Classic (LUNC) as part of its weekly contribution to the Terra Classic burn initiative. The project now boasts 326 million token burns since it began its contributions to the campaign.

The Cremation Coin team called attention to the latest burn through its official Twitter handle today, soliciting more adoption to expedite the burns for this week. The burn transaction occurred at 02:46 (UTC) today and represents a portion of the project’s volume for last week.

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Cremation Coin’s previous burn involved 18.3 million tokens last week. The latest burn brings the project’s total burns to 326.6 million LUNC tokens in three months. Nonetheless, LUNCDash puts its total burns at 314.4 million Terra Classic, having begun indexing its burns at a later date.

Despite the discrepancy, Cremation Coin has quickly moved to seventh position on the list of biggest Terra Classic burners, with just 30 million tokens away from overtaking prominent validator Allnodes as the sixth largest burner. Cremation Coin is also 109 million tokens away from reaching LUNC DAO’s total burns of 434 million.

This Week’s Burns

Cremation Coin’s 30.6 million burns represent 91% of this week’s total Terra Classic burn transaction, currently at 33.4 million LUNC. Besides Cremation Coin, LUNC DAO also contributed weekly to the campaign.

The LUNC DAO transaction occurred yesterday at 01:31 (UTC) and involved the incineration of 1.57 million tokens. LUNC DAO has remained consistent in token burns ever since the start of the burn initiative. Despite a reduction in burn rate, the validator has been incinerating millions of tokens occasionally.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



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.

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