Wed. Dec 6th, 2023

At the time of writing this article almost 21 million Terra Classic (LUNC) tokens have been burned in the last 24 hours; all this after a price rally that has been influenced by the rumor that Coinbase could be acquiring tokens (LUNC) worth 250 million dollars and also by the news that the second airdrop of (LUNC) has been executed satisfactory by Binance.

Burn to build again.

The Burn and Build validation node operated by anonymous crypto influencer Crypto King has accounted for more than 95% of the total LUNCs burned in the last 24 hours, burning nearly 21 million tokens in a single transaction. According to Crypto King, the significant burn was his team’s way of expressing the gratitude that the community has bestowed on them.

Just a few hours after the first token burn (LUNC) Crypto King also claimed that it plans to burn 100% of the profits made from the burn by running its Burn and Build validator node.However, the time frame of this maneuver is unknown, something that Terra validators have adopted to aid the burning campaign and attract delegations of community members.

LUNC meets in the middle of a flat market.

The LUNC token has shown an increase in its price in the midst of a flat market, moving up 6.11% and entering the top 100 cryptocurrencies with the highest gains of the week in the digital asset market. LUNC’s price surge became apparent Thursday as reports of Binance’s second LUNA airdrop and rumors of a planned LUNC mass buyout by Coinbase surfaced. Momentum remains sustained, with the asset changing hands at $0.0001454 at press time.

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By Farwa Raza

Farwa Raza is a writer who specializes in news articles. She has been writing on for over one years, and during that time she has written over 100+ articles on various topics ranging from politics to entertainment. Her goal as an author is to provide readers with the latest news stories while also providing her own opinion on them.