The zealous Terra Classic community continues to burn millions of LUNC daily as they remain focused on reducing the token hyperinflated total supply to 10 billion units only.
According to data extracted from the popular LUNC burn tracking platform Terrarity, over 411,069,479 Terra Classic tokens were taken out of circulation between February 1 till the time of writing. Consequently, LUNC price has spiked by over 7.5% in the last 7 days. Terra Classic holders now hope to see if the latest LUNC price prediction would play out.
LUNC Burn Details
At the start of the new month, about 23.5 million LUNC were burned altogether from 554,821 wallets. The burn rate saw a substantial increase on February 2 as roughly 60 million LUNC was incinerated within 24 hours. Notably, 435,868 wallets contributed to this LUNC burn volume recorded on Thursday.
The largest LUNC daily burn volume in the last 7 days was recorded on Friday when approximately 148 million Terra Classic tokens were sent to the official Terra dead wallet. Over 1.53 million wallets contributed to this hefty burn volume, as shown on Terrarity.
A huge decline in the daily LUNC burn volume was seen on Saturday as only 45.8 million LUNC was taken out of supply courtesy of 531,185 wallets. But on February 5, 53.4 million Terra Classic tokens were burned by community members and other LUNC burn supporters. The number of wallets that participated in Sunday burn events surpassed 3.12 million.
Among the contributors was the top Terra Classic validator LUNC DAO. The 5th-largest LUNC burn contributor burned 1,944,387 LUNC on Sunday at 5:49 GMT. LUNC DAO’s total burn contribution now sits at 439,932,700 Terra Classic tokens.
Last Monday was another day for the Terra Classic army to burn more tokens. Particularly, 44.6 million LUNC was destroyed within 24 hours with more than 10.7 wallets contributing.
But in the last 24 hours, more than 35,719,925 LUNC has been burned. Out of this massive amount, Terra Casino was responsible for 10 million LUNC burned today. Accordingly, the project has contributed approximately 63 million tokens to the total burned LUNC.
🔥🚨MASSIVE NEWS🚨🔥@TerraCasino_io has just burnt 10m #LUNC 🔥
This means our fantastic customers have helped burn over ➡63m $LUNC⬅ in under 3 months.Thanking our epic guest pyromaniac @bull_bnb for sponsoring us and holding the match, BOOM💥https://t.co/FoE9uakzbc pic.twitter.com/z9H0jBgSDH
— 🏉♥️♣️TerraCasino♦️♠️🌎 (@TerraCasino_io) February 6, 2023
In the same vein, the newly launched project on the Binance Smart Chain, Cremation Coin, destroyed 2,048,861 LUNC at 5:38 today. With all these recent burns, the total LUNC burned has reached 38.7 billion.
More so, the Terra Classic community hopes that the LUNC burn highest contributor Binance, would resume its LUNC burning events sooner than later. The exchange announced on Monday that it would support the Terra Classic blockchain upgrade to v.1.0.5.
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