LUNC burn weekly numbers turned out better than expected, here’s detailed insight
After the second LUNC batch sent by Binance to burn is almost half the size of the first, it looked like the final number of LUNC burned last week would be disappointing. However, the numbers turned out to be more or less consistent.
According to LUNC Tech portal, 4.39 billion LUNC were burned during the past week. Of that number, 3 billion LUNC came from Binance, while the rest of the coins were burned due to taxes on other exchanges. A total of 19.22 billion LUNC have been burned since the burn mechanism was introduced, which, according to the portal, is equivalent to 0.28% of the total supply of tokens.
What to expect from LUNC next week?
Yesterday, the collection of the third batch of trading fees for the LUNC pair on Binance ended. Burn results will be released on Monday, 17 October. A quick run through the LUNC trading volume figures provided by CoinMarketCap realizes whether the number is equal to or greater than last week’s volume, allowing less than 3% to be expected. Billion LUNC burned through Binance again.
At the same time, the LUNC price has been falling over the past week, with quotes trading 13% below the week’s opening price at this moment. Continued strong volatility in LUNC should be expected next week.
