The latest news regarding Terra Classic (LUNC) indicates that it is still in a phase of price consolidation, trading around $0.000062 to $0.000067. There are various predictions for its future price in 2025, ranging from $0.00002372 to $0.00037801, with some predictions still far from the "one dollar dream".
Burning of LUNC:
Yes, quantities of LUNC are continuously being burned. Burning is a key mechanism to reduce the circulating supply of the currency, aimed at increasing its scarcity and thus its potential value. Here are some important points about LUNC burning:
* Transaction tax mechanism: Originally, there was a burning tax of 1.2% on LUNC transactions on-chain, but it was later reduced to 0.2%.
* Role of Binance: The Binance platform, one of the largest cryptocurrency exchanges, significantly contributes to the burning of LUNC. Binance burns large amounts of LUNC periodically (usually monthly), reflecting its support for the burning strategy. The total LUNC burned by Binance has exceeded tens of billions.
* Community burning: In addition to Binance's burning, the Terra Classic community also participates in burning coins through various mechanisms and proposals. The total tokens burned by the community approaches 110 billion tokens.
