🔥 $LUNC Burn Update: Supply Shrinks, Community Pushes Forward
📉 Total Burned So Far
A massive 410 billion LUNC has been burned since May 2022 — around 48 million tokens/day over the past month.
Burn activity has remained steady, showing consistent community involvement and strong tokenomics support.
🏦 Binance’s Role
Binance continues to lead in centralized exchange burns, with over 72 billion LUNC burned to date.
In the latest burn, Binance destroyed ~128,000 LUNC via its trading fee mechanism.
Notably, a 736 million LUNC burn in early 2024 pushed total community burns beyond 400 billion.
🔁 Burn Rate & Technical Levels
Weekly burns are averaging 700M+ LUNC, signaling healthy network activity.
Despite aggressive burning, LUNC is currently consolidating around $0.000060, a key technical support level.
🕸️ Burn Mechanisms Overview
1. On‑chain Tax – Each transaction applies a small tax (1–1.5%) that gets burned directly.
2. Exchange Burns – Platforms like Binance burn a portion of trading fees.
3. Community-led Burns – Voluntary burns by LUNC holders and validators.
Recent upgrades like Tax2Gas have boosted the burn rate significantly, applying higher burn tax on gas fees and increasing on-chain destruction.
🌱 Why It Matters
Inflation Control – With ~6.5 trillion tokens in circulation, burning reduces supply and pressures price upward.
Community Trust – High burn rates reflect commitment to long-term recovery.
Price Action – Sustained burns could push LUNC past resistance if demand picks up.
🔭 What to Watch
Binance’s next burn update 🔥
Total weekly burns on-chain and from validators
Price movement around $0.000060 support
TL;DR:
410B+ LUNC burned, Binance leading with 72B+ destroyed.
Community still going strong — and the fire isn’t dying anytime soon. 🔥📉