Terra Luna Classic project Cremation Coin burns 18.69 million LUNC tokens in a single transaction as part of their weekly burn program. With the most recent burn, the initiative has burned almost 333 million LUNC tokens altogether.
Additionally, with significant burns by cryptocurrency exchange Binance and Cremation Coin, the total number of LUNC tokens destroyed by the Terra Classic community has surpassed 53 billion.
Cremation Coin From Terra Luna Classic Burns 18.69 Million LUNC
In a tweet on April 11, Cremation Coin disclosed that it had burned an additional 18.69 million LUNC tokens in the most recent burn transaction. Since committing to the LUNC burn campaign to lower the quantity in circulation, the initiative has burned roughly over 333 million LUNC in total.
The Fair Launch, which is already active and doing well on Pinksale, is being promoted by Cremation Coin in addition. Additionally, Cremation Coin debuted its first NFT venture, with 50% of the profits going to the incineration of LUNC.
In the previous week, the Terra Classic community collectively burnt 113 million LUNC tokens. The community has consumed 53.04 billion LUNC in total.
The most promising DeFi exchange project for Terra Luna Classic, Terraport Finance, announced on Monday that its Terraport Liquidity wallet has been compromised. Nearly 9.5 million TERRA, 15 billion LUNC, and 5.5 million USTC tokens totaling $2 million were stolen by the hacker.
Developer team TerraCVita's LUNC validator lost billion in delegations as a result of the Terraport breach. However, the team has identified accounts that contain 5.5 million USTC and all 15 billion LUNC. To tackle the problem, the team is presently collaborating with Binance and KuCoin.
Price Of LUNC Remains Near Support
The price of LUNC has increased by 1% over the past 24 hours and is now worth $0.0001251. The low and maximum values for a day are $0.000123 and $0.0001258. In addition, despite the cryptocurrency market's recovery, trade volume has only climbed by 17% over the past 24 hours, suggesting a lack of enthusiasm.
The price of LUNC is still trading above the $0.00012 support level as speculators continue to predict the Terra Luna Classic's future move.