Terra Classic Projects Burn Nearly 33M LUNC This Week

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Despite declining social interactions, the Terra Classic (LUNC) community has continued the ongoing burn initiative, as numerous projects and validators have burned approximately 33 million LUNC so far this week.

There have been 32,929,066 burns thus far this week, with four entities responsible for 99.6%. 

Projects like Cremation Coin, Terra Casino, and the validators LUNC DAO and Luna Station fall into this category.

Related Reading: https://fxcryptonews.com/proposal-to-burn-terra-community-pool-may-get-lunc-to-1-heres-why/ 

This week’s most significant and recent transaction was the burn of Cremation Coins. At 02:12 (UTC) today, the project burned 18.3 million Terra Classic coins.

 At the time of reporting, its burn accounts for 55.6% of all burns this week.

Cremation Coin burned 51 million tokens on March 7, 77 million on March 21, and 106 million LUNC on March 14. 

Considering the size of the most recent burn, it is still the project’s lowest single burn for March. This brings its total burns for this month to 252.3 million LUNC.

In this week’s burn, validators Luna Station and LUNC DAO also left their mark. As a part of its weekly commitment to the Terra Classic burn campaign, LUNC DAO burned 1.6 million LUNC tokens. 

The validator, one of the first organizations to support the project, continues to do so.

On Monday at 12:29 (UTC), Luna Station carried out its burn transaction. 

The 10.8 million token transactions made the validator the second-largest burner this week.

On-chain data also shows that Terra Casino, the LUNC-based online bookmaker launched last November, has been silently burning hundreds of thousands of LUNC tokens daily for the past seven days. 

The project burned 1,99 million LUNC tokens in two trades this week alone.

The betting site committed to destroying LUNC with some of its wagering traffic at debut and has upheld that commitment ever since. 

Terra Casino has executed 7 burn transactions totaling at least 990K LUNC tokens over the previous 7 days. 

As a result, its total burn over the last seven days is currently 6.9 million Terra Classic.

LUNC to Surpase Threshold

After the most recent burns, all previous burns are 50.8 billion LUNC. 

The current Terra Classic price is $0.000120, with a 24-hour trading volume of $0.000120.

As previously announced, the community has surpassed the 50 billion burn mark. 

They currently want to surpass the 51 billion thresholds.

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