July 2 (Cointime) - Binance, the world's largest cryptocurrency exchange, has burned 2.65 billion Terra Classic (LUNC) tokens in its 11th batch of the burn mechanism, bringing the total number of LUNC tokens burned by Binance to over 35.5 billion. The Luna Classic burn mechanism automatically burns tokens whenever a transaction occurs on the network, reducing the total supply of tokens and increasing their value over time. The LUNC burn rate has improved over the past two months thanks to initiatives from projects like DFLunc, TerraCasino, and Cremation Coin, resulting in the successful burning of a total of 68 billion LUNC tokens by the community. Despite Binance's burn, the LUNC price remains under pressure and has continued to decline.