Binance burned 2,500,382,131.16 LUNC tokens worth $659,300.76
The top cryptocurrency exchange, Binance, published the results of its third batch of burns on 17 October. According to the updated data on its website, Lunch Tokens worth $659,300.76 or 2,500,382,131.16 LUNC were sent to the Burn address. This includes the total trading fee on the LUNC spot and margin trading pairs between October 9 and 15.
In the past week, Binance burned nearly three billion, or 2,992,563,505 LUNC worth $922,800.The results of its first batch burn had Binance send over 5.6 billion LUNC worth $1.8 million to the LUNC burn address.
In support of the 1.2% tax burn, Binance announced that it was implementing a burn mechanism to burn all trading fees on LUNC spot and margin trading pairs by sending them to the LUNC burn address.
Community awaits price reaction
As of this writing, LUNC was marginally up in the last 24 hours at $0.000261 and down 13.28% in the past week. Unlike the hype generated ahead of the results of the first batch burn, the LUNC price remains unmoved, keeping the community expectant. At the time of publication, the general market was attempting a rebound following the recent dip seen across the board.
As U.Today reports, LUNC could see volatility throughout the week as Unchained Podcast host Laura Shin announced that Terra founder Do Kwon will be featured on the show’s next episode.
The episode with Do Kwon is set to be released this coming Tuesday, Oct. 18, and will allow listeners to receive answers to their most pertinent questions about Terra and its collapse.
In May, the Terra ecosystem collapsed after the UST stablecoin collapsed, causing more than $60 billion in losses.
