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Terra Classic Burns Surpass 27 Billion LUNC and Total Staked Now More Than 857 Billion Tokens

The effort to get Terra Classic (LUNC) back on track is still very active as the number of LUNC tokens removed from circulating supply increases on a daily basis.

As reported by LUNC Burn, the platform that tracks the movement of LUNC tokens to the inferno wallet, a total of 27.2 billion tokens have been taken out of the circulating supply.

It’s said in the report that $88.34 million LUNC tokens were destroyed in the last 24 hours via the 0.2% tax initiative.

Read Also: Terra Classic Dev Shares New Proposal That Suggests Burning of $4.16 Million Worth of LUNC

Aside from the aforementioned total LUNC burned, Terra Classic investors have also staked 857.6 billion LUNC, representing a 5.3 billion increase in 24 hours. Recall that the number stood at 852.3B LUNC tokens about a day ago.

It should also be noted that the staked tokens represent 12.46% of LUNC’s total supply of 6.8 trillion.

LUNC Burn also revealed in the update that the Terra Classic tokens in circulation now stand at 5,968,159,444,749 tokens.

It shouldn’t be a surprise that Binance, the world’s largest crypto exchange by trading volume, has the largest share of the total LUNC burned. However, the effort of validators, such as Allnodes and LUNCDAO, in helping to reduce Terra Classic supply cannot be thrown underfoot.

Read Also: This Controversial Terra Classic Proposal Gets Approved with Less Than 30% of Validators Voting

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As shown in Terra Station, Binance burned a total of 1.2 billion tokens on October 31. The exchange has now resorted to publishing its LUNC burn reports on a monthly basis rather than weekly.

It’s also worth noting that Binance still retains its Terra Classic holdings, as recently revealed by the CEO Changpeng Zhao (CZ).


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Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.
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