Binance Announces Their Last Token Burn

July 30, 2023 

Binance, the world’s largest cryptocurrency exchange, announced that it has completed the last token burn of Terra Classic (LUNC) on its platform.

  • The token burn is a process of permanently removing a certain amount of tokens from circulation, reducing the total supply and increasing the scarcity and value of the remaining tokens.
  • Binance burned approximately 1.4B LUNC tokens, which is equivalent to 10% of the total supply, on July 23, 2023.
  • The token burn was done in accordance with the Terra Classic whitepaper, which stated that 10% of the LUNA supply would be burned every year until only 10% remained.

LUNC still has a high supply but there will be a 13th round of token burning. 

If you found this helpful, Subscribe to The Art of the Bubble’s free newsletter.

Join us on Discord for live chat and daily updates. Find us on Twitter too

You found this content helpful ?

  1. 1
    Join our free weekly "Bubble Bulletin" for more
  2. 2
    Join us on Discord for live chat and daily updates
  3. 3
    Follow us on Twitter
  4. 4
    Share this content using the buttons below :

Disclaimer

This piece of content is provided for educational and entertainment purposes only. Robin Technologies and Analytics LLC is the firm that distributes 1.2 Labs products. The firm does not provide individually tailored investment advice and does not take a subscriber’s or anyone’s personal circumstances into consideration when discussing investments; nor is Robin Technologies and Analytics LLC registered as an investment adviser or broker-dealer in any jurisdiction.

You should expect no financial returns one way or another based on statements contained herein. These points hold equally for any statements that could be attributed to The Art of The Bubble or any related business entities or personnel operating in association with Robin Technologies and Analytics LLC.

If you decide to buy or invest in anything, then your returns and potential losses are your own. No statements about taxation are taxable advice and you are encouraged to consult your own tax professional. You are also encouraged to do your own due diligence before investing in anything.

RELATED POSTS:

April 16, 2024

October 24, 2021

March 7, 2023

July 16, 2023

November 28, 2022

March 25, 2024

June 27, 2022

November 23, 2022

August 11, 2022

LATEST POSTS:

July 24, 2024

July 23, 2024

July 22, 2024

July 18, 2024

July 17, 2024

July 15, 2024

July 11, 2024

July 10, 2024

July 9, 2024

What do do now?

Join the free 1.2 Labs "Bubble Trading" Bulletin for new trading strategies, macro & sentiment analysis and occasional free airdrops