#LUNC✅ Coin burning is a process in which a certain amount of cryptocurrency is permanently removed from circulation, reducing the total available supply. This practice is common in blockchain projects such as Terra Classic (LUNC) and can serve a variety of purposes.

Why burn coins?

Reduce Supply: With fewer coins available, balancing supply and demand can increase the value of the remaining coins.

Control Inflation: Helps combat inflation, especially in projects with a large number of tokens in circulation.

Incentivize Holders: The potential appreciation encourages investors to hold onto their assets for longer.

Fulfill Community Proposals: In decentralized blockchains, the community can decide to perform burns as part of ecosystem management.

In the case of LUNC

Following the collapse of the Terra network and the split into Terra (LUNA 2.0) and Terra Classic (LUNC), burning LUNC has been a strategy discussed and implemented by the community to try to recover value and rebalance the market. Some exchanges, such as Binance, have supported the burning process with transaction fees earmarked for this purpose.

If you need details on recent numbers or future strategies, I can look for updated information!