Binance, the world’s largest cryptocurrency exchange, has executed a large-scale token burn, opting to incinerate over 2 billion LUNCs in a single day. 

Binance Initiates Massive LUNC Burns

A new report from a Terra Luna army member on X (formerly Twitter) has unveiled a massive 2.2 billion LUNC burn initiated by Binance. The cryptocurrency exchange incinerated approximately 2,243,572,668 LUNC tokens valued at around $321,301. 

Cumulatively, Binance has executed a total of 53.49 billion LUNC burns across 2,956 transactions, starting from May 2022. Earlier in February 2024, the crypto exchange kickstarted the month with over 2.09 billion LUNC burns. 

At the start of the year, on January 1, Binance also executed another massive burn of 5.57 billion LUNC tokens. The crypto exchange has been on a LUNC burning spree for years, displaying a tradition of burning a considerable amount of LUNC tokens on the first of every month.  

Presently the total amount of LUNC tokens burned since May 2022 is estimated at 102.14 billion. This includes both Binance’s large-scale burns and that of the Terra Classic community. 

Commemorating Binance’s commitment towards Terra Classic vi

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Author: Scott Matherson

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