What is Luna classic burn status?

The Luna Classic burn status is tracked by various websites that provide users with a chart that displays the number of tokens that have been burned since the burn mechanism initially went live, such as TERRARITY’s LUNC Burner. This allows users to track the burn progress and get a better understanding of the burn mechanism.

How many Lunc have been burned?

Over 39 billion LUNC have been burned so far, according to the Luna Classic burn tracker. Source If you are wondering when is the next Luna Classic burn taking place, the answer is simple – Luna Classic burn is an automatic, continuous process that is being carried out daily.

Why is Luna burned so much?

The more LUNA burned to meet the demand. The more valuable LUNA becomes because the total Max supply drops. Current proposal was approved to double the burn rate to meet demand of UST needed to be minted. Something I do not understand is how can Luna both have a target supply of 1Billion while at the same time be burned?

Will burning push up Luna classic price?

LUNC holders will hope burning helps push up the Luna Classic price. Even though the Luna 2.0 crypto exchange list grows, some exchanges previously vowed to burn Luna through their transaction fees. With a Luna Classic burn tax of 1.2% coming on September 20, these burns may continue to grow.