Cremation Coin, a new contributor to the Terra Classic burn expedition, has quickly grown to become the eighth-largest LUNC burner.
The project, launched on Binance Smart Chain last December, continued its notable weekly contribution today. This is to support the Terra Classic community to reduce LUNC’s total supply to 10 billion only.
In the early hours of today, Cremation Coin took out a whopping 51.7 million LUNC tokens from Terra Classic’s total supply in one burn transaction.
This marked the third-largest single LUNC burn transaction since the year began, coming behind Terra Casino’s 18 million LUNC burn on January 1, 2023.
Interestingly, this hefty burn by Cremation Coin took the entity higher on the list of top LUNC contributors, jumping from number 17 to number 8 on LUNCDash’s ranking.
At the time of writing, the total LUNC burned by Cremation Coin stands at 93.7 million but LUNCDASH records 81.4 million.
Cremation Coin pledged to burn 10% of the project’s total transaction volume in LUNC per week and the team has been doing so. Recall that in January, the team destroyed over 16 million Terra Classic tokens in a single transaction while it burned roughly 2 million LUNC in early February.
As per today’s burn update, the team behind Cremation Coin beckoned the community to support the project for an increased LUNC burn volume.
It bears noting that Binance is the largest LUNC burn contributor with over 28.9 billion tokens burned at the time of writing. The entity labeled Burn Tax comes second on the list, burning a total of 14.6 billion LUNC to date. At press time, LUNCDASH showed that 48.7 billion LUNC have been destroyed by the teeming community.
On Thursday, the top exchange burned 8.9 billion LUNC which marked the biggest single burn so far in 2023. Shortly after, Binance confirmed the date for the next massive LUNC burn.
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