Binance, the world's largest cryptocurrency exchange, has conducted another round of token burning, reducing the supply of Terra Luna Classic (LUNC) tokens. This move marks the 21st phase of the LUNC burn mechanism, with 1.4 billion tokens burned, bringing the total to over 59 billion. The Terra Luna Classic community has also burned an impressive 113 billion tokens.

Binance's Burning Mission

The exchange has been consistently burning LUNC tokens, with 56 billion transferred to the burn address. These burns occur monthly, with 4.17 billion tokens burned on May 1st and over 100,000 tokens burned in April. The reason behind the value decline during these burns remains unclear. However, Binance has burned approximately 59.07 billion LUNC tokens from trading fees, showing its commitment to reducing the token supply.

LUNC and USTC Price Update

As of today, LUNC is experiencing a 6.5% price increase, trading at $0.0001091. The token's trading volume has also seen a significant 28% increase in the last 24 hours, reaching $27 million. Meanwhile, USTC, the former stablecoin, has seen a 6% price increase, trading at $0.0224. The market is ever-changing, but these burns may potentially support the token's value in the future.