Terra Classic Burn: Terra Classic Community Burns 76 Billion LUNC Tokens
By:C, FionaThe cumulative amount of LUNC burned by Terra Luna Classic‘s cryptocurrency exchanges, validators, projects, and members has already surpassed 76 billion.
Since May 18, 2022, the Terra Luna Classic community has burned a total of 76 billion LUNC, marking a significant milestone in the ongoing endeavor to lower the circulating quantity of LUNC. Binance, the largest cryptocurrency exchange in the world, has burned about 38.81 billion LUNC, or more than 50% of the total LUNC burned.
There are currently 5.80 trillion LUNC tokens in circulation, with a maximum supply of 6.83 trillion LUNC. The LUNC burn rate can be increased, but only if the community works to improve its utility.
The Classic Burn on Terra Luna Reaches the 76 Billion Mark
With the help of cryptocurrency exchanges, validators, projects, and members, the Terra Luna Classic burn campaign has already burned 76 billion LUNC. Binance sends billions of LUNC to the burn address every month as part of the LUNC burn mechanism, and the community burns an average of 400 million LUNC per week.
Over 38.81 billion LUNC have been burned by the cryptocurrency exchange Binance thus far, with over 1 billion burned in the 14th batch of the LUNC burn mechanism on October 1.
In Q4, the Terra Classic L1 Task Force (L1TF) developer group and the Quant USTC repeg team will be concentrating on decreasing the supply of LUNC and USTC in circulation. Developers are collaborating with markets in an effort to successfully repeg USTC to $1.
The Galaxy Station wallet and Galaxy Finder blockchain explorer are now available to the Terra Luna Classic community.
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Pressure Mounts on LUNC and USTC
The price of LUNC has decreased by 3% over the previous 24 hours, and is now at $0.000056. The low for the last 24 hours is $0.0000556, and the high is $0.0000583. Last week, Terra Luna Classic’s price dropped when it broke down below the $0.000060 support level.
Meanwhile, USTC pricing is currently trading at $0.011, down over 4% in the last 24 hours and 12% in the last week. In addition, trading volume has dropped drastically during the past day.
Where to Trade LUNCUSDT Futures?
Now you can trade LUNC futures on BTCC. BTCC, a cryptocurrency exchange was founded in June 2011 with the goal of making crypto trading reliable and accessible to everyone. BTCC is a crypto exchange offering users liquid and low-fee futures trading of both cryptocurrencies and tokenized traditional financial instruments like stocks and commodities.
BTCC offers exclusive bonus for new users. Sign up and deposit on BTCC to get up to10,055 USDT in bonuses. Meet the deposit targets within 30 days after successful registration at BTCC, and you can enjoy the bonus of the corresponding target levels. Find out what campaigns are available now: https://www.btcc.com/en-US/promotions
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How to Trade Tether (USDT) on BTCC
- Mobile App
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- 1. Download the BTCC App via App Store or Google Play
- 2. Register and verify your account, or log in to your BTCC account.
- 3. Tap ‘Buy Crypto’.
- *Please note that only verified users are eligible to buy crypto on BTCC.
- 4. Enter the amount you would like to buy in USDT.
- 5. Select a service provider and proceed to payment.
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How to Trade LUNCUSDT Futures on BTCC ?
To trade Crypto Futures on BTCC, follow these simple steps:
- Create an account
Go to the BTCC website and fill out the registration form with the necessary details. Finish the checks to make sure you’re in line with the stock exchange’s rules.
- Deposit funds
Fund your BTCC wallet once your account has been created and verified. You can fund your BTCC account with a number of different cryptocurrencies and fiat currencies.
- Navigate to the crypto trading section
You can begin trading on the BTCC platform as soon as your account has been funded. Find the crypto exchange rate, which is written as crypto/Bitcoin (BTC) or crypto/US Dollar (USDT) depending on the other pairs available.s.
- Choose your trading type
Both spot trading and futures trading are available through BTCC. If you want to purchase or sell crypto tokens at the current market price, you may want to investigate spot trading. If you’d rather trade crypto with leverage and speculate on its price movements, you can do so with crypto Futures.
- Place your trade
After deciding which type of deal you want to make, you can enter the amount of crypto you like to buy or sell, as well as your preferred price (if necessary). If everything checks out, go ahead and make the deal.
- Monitor and manage your trades
Be sure to monitor your crypto holdings on the BTCC exchange. To limit losses and protect gains, you can use stop-loss and take-profit orders. It is also important to keep up with the latest crypto market trends and news if you want to successfully trade this cryptocurrency.
Before becoming involved in any kind of trading, make sure you’ve done your homework. Due to the extreme volatility of the cryptocurrency markets, it is crucial to have a well-defined trading strategy and risk management framework in place. To successfully trade crypto on the BTCC market and take advantage of the chances it provides, follow these procedures and keep yourself updated.
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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.
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