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*LUNC: burning of the LUNC token and falling prices*

Binance has completed its fifth operation of burning Terra Luna Classic (LUNC) tokens, sending over 24,853 LUNC to the dedicated address. This initiative is part of a broader strategy aimed at reducing the circulating supply of the Terra Luna Classic financial asset.

Binance intensifies the burning of Terra Luna Classic (LUNC)

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 has collectively reduced the supply by 411.17 billion LUNC.

In particular, over the last seven days, the community has burned more than 383 million tokens, including a peak of 200 million LUNC in a single day, on Wednesday. All this has reduced the total circulating supply to around 6.49 trillion tokens, a significant figure for the asset.

Future outlook: InterChain Summit and Terra Classic developments

The Terra Luna Classic community is set to participate in the Cosmos InterChain Summit, scheduled in Germany on June 20 and 21. During this event, crucial topics concerning the Terra and Terra Classic chains will be discussed.

Among the most anticipated topics is the reactivation of the market module project, a proposal put forward by the Vegas validator. This initiative could significantly influence the governance and functionality of the Terra Classic network.

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