Yes, Binance burns the trading fees collected from Terra Luna Classic (#LUNC✅ ) spot and margin trading on a monthly basis. In December 2022, Binance announced a policy adjustment to burn 50% of the LUNC spot and margin trading fees These burns are conducted periodically, with Binance sending the burned tokens to a designated burn address, reducing the circulating supply. For instance, in one of its burn events, Binance burned approximately 2.65 billion LUNC tokens, bringing the total burned by the exchange to over 35.5 billion. These burns aim to decrease the circulating supply, which could positively impact the tokens value over time.
Binance Burns 1.7 Billion Terra Luna Classic (LUNC) Tokens The Terra Luna Classic community saw 1.7 billion LUNC tokens burned by crypto exchange Binance, as per the burn transaction on January 1. In the 29th batch of the LUNC burn mechanism, the crypto exchange burned $233,156 in trading fees for the period between November 30 to December 30. The total LUNC burned by one of the top crypto exchanges has now reached nearly 68.39 billion LUNC tokens. Notably, Binance burned 1.72 billion LUNC in the previous batch of the monthly burn mechanism. The top crypto exchange burns 50% of LUNC spot and margin trading fees monthly to support the community’s revival efforts. The community has burned nearly 395 billion LUNC tokens in 2 years and now hopes to see major LUNC and USTC burns as part of the narrative. $SHELL $LUNC $USTC #SHELLAirdropOnBinance #BinanceAlphaAlert #BinanceLaunchpoolRED #BinanceLaunchpoolRED #TraderProfile #SBF1stTweetIn2Yrs
In his cold prison cell, Do Kwon sat in silence, staring at the ceiling. He had no phone, but his lawyer had just told him something interesting—FTT had surged 30% after a single tweet from Sam Bankman-Fried, who was also behind bars. He let out a sarcastic chuckle. “So even a convicted man can move the markets?” he thought.
Sitting up on his stiff bed, he ran a hand through his hair. “What if I tweeted?” The idea lingered in his mind. He knew that Luna Classic (LUNC) still had a loyal community, people who dreamed of its comeback. A simple tweet from him could spark something. “It’s not over yet… LUNC Would the market react the same way? Would LUNC pump just like FTT, or had people completely lost faith in him? He didn’t have the answer, but the temptation was real. “Even from prison, I might still have the power to move the markets…” he muttered, a mysterious smile forming on his lips. $LUNC $FTT $KAITO #BTC #TraderProfile #BinanceAlphaAlert #Write2Earn #ETH
With Bitcoin rallying and approaching its previous highs, many are speculating that Altcoin Season is right around the corner! Historically, after Bitcoin makes strong moves, liquidity starts flowing into altcoins, leading to explosive gains for certain projects.
Some coins that could be early indicators of this season include:
🔹 $LUNC (Luna Classic) – A potential comeback in the making.
In the past 24 hours , 369,290 traders were liquidated , the total liquidations comes in at $1.36 billion The largest single liquidation order happened on Binance - BTCUSDT value $20.80
As if we were still children, listening to our parents’ advice without understanding its meaning, but confident it’s best for us Similarly, analysts and validators tell us and we have to listen and be patient.
If you own just a 1000 pieces of $LUNC hold onto them… don’t sell.
You’ll find you weren’t wrong.
Fate, whales, the market, and luck have unimaginable things in store. $USTC $ETH
CZ: Do Kwon is a scammer and Sam has a hand in that .. but It is important that $LUNC and $USTC still exist and have not been delisted. It is important for the ecosystem that the Terra Classic blockchain gets back on its feet. #BybitSecurityBreach #LitecoinETF #BinanceAlphaAlert
Only 30 hours remain in the vote to burn 1.86 billion $USTC that are inactive on the Terra Classic chain. Currently, (indecisive) votes hold the lead, but the strong support for ( #YES ) suggests that if the trend continues, the proposal will pass.
However, (#NO )votes are also gaining traction, which could shift the outcome in the final moments. $USTC $LUNC
❤️🔥For all friends who did not understand the previous post❤️🔥
Analysis of the Vote and What It Means The image shows details of an ongoing vote on the final on-chain proposal to burn 1.86 billion USTC from LFG wallets via a chain upgrade. Current Status of the Vote
The voting period is still open, with 4 days and 5 hours remaining. So far, YES votes account for 26.65% of the total votes (123.23B LUNC). NO votes are minimal (0.07%), while 13.82% have voted “NO with VITO (63.92B LUNC).
The majority (59.46%) have abstained from voting, meaning they have chosen not to support or oppose the proposal. What Happens If the Proposal Passes? 1.86 billion USTC will be burned, reducing the total supply, which could help stabilize its price.
A chain upgrade is required to execute the burn, meaning modifications to the Terra Classic blockchain will be needed.
What Is LFG? LFG (Luna Foundation Guard) is a reserve fund originally created to support the stability of Terra’s algorithmic stablecoins, like USTC. After the collapse of Terra in 2022, some assets remained in LFG wallets, and now the community is pushing to burn them to benefit the Terra Classic ecosystem. Conclusion The vote is leaning towards approval, as the required quorum and pass threshold have been reached. If this trend continues, 1.86 billion USTC will be burned once the chain upgrade is implemented, potentially strengthening the Terra Classic ecosystem. $LUNC $USTC
The proposal to burn 1.86 billion $USTC from LFG wallets is gaining strong support, with YES votes currently in the lead. If approved, this would result in the removal of 1.86 billion #USTC. However, executing the burn requires a chain upgrade, as these tokens can only be eliminated through the upgrade process. Meanwhile, U.S. hearing documents indicate that the community has the authority to determine the outcome of this proposal. While some validators prefer to wait for the hearing to conclude, the final decision will be based on the vote, and it must be respected.
The Terra Classic community remains committed to burning all inactive $LUNC and USTC.
$LUNC LUNC/USDT is currently going through a correction phase after the previous upward movement. Let’s analyze the situation based on the indicators:
1. Is this a correction phase?
✅ Yes, several signs indicate that the price is in a correction rather than a full reversal: • The price dropped after reaching 0.00008360, but it hasn’t broken a major support level yet. • There is no sudden crash; instead, we see fluctuations with a gradual decline, suggesting an ongoing correction. • RSI is still in the neutral zone (35-42), indicating weak buying momentum but not yet oversold. • OBV remains stable, meaning selling pressure isn’t too aggressive but rather part of the correction process.
2. Will the correction end soon? • If the price holds above 0.00007566 and does not break below, the correction might be nearing its end, and an upward move could follow. • If 0.00007127 is broken, the correction could turn into a real downtrend rather than just a pullback.
3. How do we know when the correction is over? • A strong rebound from a key support level (such as 0.00007566 or 0.00007127). • An increase in trading volume along with a strong green candle. • RSI breaking above 50, signaling a return of bullish momentum $USTC $FTT #MileiMemeCoinControversy #BNBChainMeme #BinanceAlphaAlert .
Instead of dreaming that $LUNC will reach $0.01 or even $1, it’s better for you to burn small portions of it yourselves.
You can also join the #LUNC✅ community, participate in voting, and contribute to the burn.
At the very least, your last resort should be #Binance —asking them to burn a portion of LUNC. They are the only ones capable of making a significant impact by reducing the supply.