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*LUNC: LUNC token burn and price drop*

Binance has completed its fifth Terra Luna Classic (LUNC) token burn, sending over 24,853 LUNC to the dedicated address. This initiative is part of a broader strategy to reduce the circulating supply of the Terra Luna Classic asset.

Binance Intensifies Terra Luna Classic (LUNC) Burn

In the current month alone, Binance has burned nearly 498.6 million tokens, contributing to a net total of approximately 73.04 billion LUNC removed from the market. This figure represents 17.8% of the total tokens burned by the entire Terra Luna Classic community, which collectively reduced the supply by 411.17 billion LUNC. In particular, over the past seven days, the community has burned over 383 million tokens, including a peak of 200 million LUNC in a single day on Wednesday. This has reduced the total circulating supply to approximately 6.49 trillion tokens, a significant figure for the asset.

Future Outlook: InterChain Summit and Terra Classic Developments

The Terra Luna Classic community is poised to participate in the Cosmos InterChain Summit, scheduled for June 20-21 in Germany. This event will address crucial topics related to the Terra and Terra Classic chains.

Among the most anticipated developments is the reactivation of the Market Module project, a proposal put forward by the Vegas validator. This initiative could significantly impact the governance and functionality of the Terra Classic network.

Another relevant topic is the appreciation of the oracle reserve, which has undergone a drastic decrease, dropping from 115 billion to 69 billion tokens in just one year. This decline is of concern to the community, highlighting the need for interventions to support and improve confidence in the Terra Luna Classic ecosystem.