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HomeCrypto News16M Terra LUNC Burned in 24hrs; Terra Casino Accounted for Largest Burn

16M Terra LUNC Burned in 24hrs; Terra Casino Accounted for Largest Burn

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Since the beginning of the week, the Terra LUNC community has collectively burned more than 16 million tokens, demonstrating their steadfast support for the current burn campaign. 

Out of the 16M+ tokens burned, Terra Casino was responsible for over 10M tokens, with further contributions from Cremation Coin and LUNC DAO. 

Terra Casino has burned more than 63 million LUNC in less than three months with the most recent incineration exercise.

The recently created gambling platform delivered 10,059,442 (10M+) LUNC tokens to the burn address yesterday at 23:35, making it the largest burn transaction this week (UTC). 

Terra Finder data exposes a message that indicates a connection to the wagering project.

The burn was also brought to the public’s attention by Terra Casino via their official Twitter account. 

The initiative recognized the famed analytics account Bull of Binance Street as a sponsor of the most recent burn exercise.

With the most recent burn, Terra Casino has burned 63 million LUNC since its late November 2022 inception, with 9.7 million LUNC coming from deposits and withdrawals and 54 million from betting volume. 

No matter the currency, the platform has pledged to burn 0.2% of all betting volume in LUNC.

Other Terra LUNC Burns

New projects Cremation Coin and well-known autonomous Terra validator LUNC DAO appeared in the most recent burns round. 

The most recent burn transaction involved the burning of 2,048,861 (2M+) tokens for Cremation Coin at 04:38 (UTC) today.

Although the week had been quiet for them, the initiative emphasized the burn and stated that they were still devoted to keeping their promise of consistent burning.

With the most recent transaction, Cremation Coin has burned 30 million LUNC since it began its burning campaign on January 24. 

The initiative has pledged to burn up to 10% of LUNC’s weekly trading volume. It burned 16 million or more tokens at once last week.

The earliest burn transaction of the most recent batch was done by LUNC DAO, one of the burning campaign’s original backers and pioneers. 

On Sunday at 16:49 (UTC), the independent validator transferred 1,944,387 LUNC with the memo “LUNC-DAO-BURN” to the burn address.

With a stunning total burn of 439,932,700 (439.9M) tokens, the LUNC DAO ranks as the largest validator and fifth-largest overall burner. 

All parties have burned 38.7 billion tokens, with Binance alone responsible for almost 50% of that total, with 20.1 billion tokens consumed.

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