Binance's LUNC burn surpasses 35.5 billion tokens, community burn reaches 68 billion.
Over the past two months, the LUNC burn rate has shown improvement, thanks to initiatives from projects like DFLunc, TerraCasino, and Cremation Coin, which burn millions of LUNC tokens on a weekly basis. As a result, the community has successfully burned a total of 68 billion LUNC tokens.
Following the successful completion of its largest upgrade in the previous month, aiming to align the chain with Terra 2.0 and other Cosmos chains, the community's current focus is on decreasing the supply of LUNC and USTC tokens in the third quarter. Additionally, the Joint L1 Task Force and Quant team will collaborate on the USTC repeg initiative.
In June, the price of Terra Classic struggled to surpass the $0.0001 mark and declined below the support level of $0.000090. Despite Binance’s burn, the LUNC price remains under pressure, showing continued downward movement.
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