HomeCrypto NewsOver 16M Terra Classic (LUNC) Burned in 24 Hours - Crypto News

Over 16M Terra Classic (LUNC) Burned in 24 Hours – Crypto News

The latest incineration exercise brings Terra Casino’s total burns to 63M+ LUNC in under three months.

The Terra Classic (LUNC) community has collectively burned over 16 million tokens since the start of the week, signaling their sustained commitment to the ongoing burn campaign. Out of the 16M+ tokens incinerated, Terra Casino accounted for over 10 million tokens, with Cremation Coin and LUNC DAO making their own contributions.

Terra Casino

The Terra Casino burn is the largest single burn transaction so far this week, as the recently-launched gambling platform sent 10,059,442 (10M+) LUNC tokens to the burn address yesterday at 23:35 (UTC). Data from Terra Finder reveals a memo that signals an obvious affiliation with the betting project.

Terra Casino also called attention to the burn through their official Twitter handle. The project acknowledged Bull of Binance Street, a prominent analytics handle, as a sponsor of the latest burn exercise.

The recent burn brings Terra Casino’s total burn to 63M since its launch late November 2022, with 9.7M LUNC burned from deposits and withdrawals and 54M from betting volume. The platform had promised to burn LUNC with 0.2% of all betting volume regardless of the currency.

Cremation Coin and LUNC DAO

Newly-introduced project Cremation Coin and prominent autonomous Terra validator LUNC DAO also made their respective marks in the latest batch of burns. Cremation Coin’s burn is the most recent significant burn transaction, involving the incineration of 2,048,861 (2M+) tokens today at 04:38 (UTC).

The project highlighted the burn, noting that the week had been slow for them, but they remain committed to their promise of persistent burns. The recent transaction brings Cremation Coin’s total burns to 30M LUNC since it jumped on the burning campaign on January 24. The project has promised to burn LUNC with up to 10% of its trading volume every week. Last week, it incinerated 16M+ tokens at once.

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Meanwhile, LUNC DAO, one of the first supporters and pioneers of the burning campaign, made the earliest burn transaction of the latest batch. The independent validator sent 1,944,387 LUNC to the burn address on Sunday at 16:49 (UTC), attaching the memo “LUNC-DAO-BURN” to the transaction.

This brings LUNC DAO’s total burns to a whopping 439,932,700 (439.9M) tokens, maintaining its position as the biggest burner among validators, and the fifth biggest burner overall. Cumulative burn from all parties currently sits at 38.7B, with Binance accounting for over 50%, having singlehandedly incinerated 20.1B tokens.

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