The price of Terra Luna Classic (LUNC) soared by 9% following its delisting from the Turkish cryptocurrency exchange BtcTurk, which occurred after a major hack that resulted in the loss of 434 billion LUNC tokens. The delisting coincided with a significant 600% increase in LUNC's trading volume.

BtcTurk assured users that their assets are safe and that the exchange remains financially sound despite the incident. Binance, meanwhile, has frozen $5.3 million in stolen funds that were withdrawn through its platform.

The Terra Classic community is actively working to reduce the circulating supply of LUNC and USTC tokens, with over 6.5 billion LUNC tokens recently burned. Binance remains the top burner of LUNC tokens, having burned 60 billion tokens through its monthly burn mechanism.

The ongoing reduction in supply, coupled with the community's burn initiatives, continues to positively influence LUNC's market dynamics. The delisting and subsequent price surge suggest that the Terra Classic ecosystem is resilient in the face of challenges and remains focused on improving its fundamentals.