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TERRA LUNA: TERRA LUNA NEWS|| TERRA LUNA BURNING|| BINANCE BURNING LUNA


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TERRA LUNA: TERRA LUNA NEWS|| TERRA LUNA BURNING|| BINANCE BURNING LUNA

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LUNA CLASSIC (LUNC) COIN BURNING RISES AS 1.1 BILLION USTC DESTROYED
Coin burns of Luna Classic and TerraClassicUSD have both risen in recent days!
The new Terra Luna network might have launched – but coin burns of Luna Classic (LUNC) and TerraClassicUSD (USTC) have both risen in recent days.

LUNC is currently down 10% in price today to $0.0001094 meanwhile USTC is down 21% to $0.01905. Both of these prices are far below where they were at the beginning of May – when the former Luna token was worth over $80 and the former UST stablecoin pegged to the US dollar.


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The new Luna token might have a bigger market cap currently than both tokens, but there is still a lot of movement in the Terra Classic camp.

1.1 billion USTC destroyed
The proposal to remove 1.1 billion USTC tokens from communal pools and burn them was approved on May 27.

At that time the circulating supply of USTC was 11,279,951,459. As of June 1, the circulating supply of USTC is 10,252,570,040 after the Terra governance portal put the burn proposal into motion.

The move was intended to help restore USTC to its $1 peg.

LUNC coin burning jumps over 140%
The creator of the Terra network, Do Kwon, published a burning wallet for the former Luna token back on May 21.

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