Despite a slight reduction in social engagement, the Terra Classic community has continued its LUNC token burn initiative, with around 33 million tokens being burned by projects, validators, and anonymous individuals this week. Four entities, including Cremation Coin, Terra Casino, LUNC DAO, and Luna Station, were involved in 99.6% of the burned tokens. Cremation Coin accounted for the largest number of burned tokens, destroying about 18.3 million LUNC tokens. Terra Casino has also been burning hundreds of thousands of LUNC tokens on a daily basis since its launch in November 2022, burning 1.99 million tokens this week and 6.9 million tokens in the past seven days.

The total volume of Terra Classic tokens burned by the community has touched a record high as many contributors took millions of LUNC out of supply in the past weeks. While the overall LUNC burned recently crossed 50 billion, the community is still far from its target.

The Terra Classic (LUNC) community has finally crossed the 50 billion token burn threshold. Though this amount represents only a fraction of Terra Classic’s supply, it underscores the community’s efforts toward rejuvenating the asset.

Tobias Andersen, aka Zaradar, a full-time senior developer on the Terra Classic Joint Layer 1 Task Force, has taken a jab at a community member for allegedly not doing his research, asserting that most members of the core development team are doxed and not anonymous developers.

The collapsed crypto exchange has been steadily transferring out hefty volumes of LUNC from its hot wallet in the last week. At the time of writing, FTX’s balance sheet holds only 66.9 billion LUNC. 

Bankrupt exchange FTX has been sending out its Terra Classic holdings since late February, with the distribution campaign seeing a massive uptick this month. As a result, the embattled platform has transferred over 82.5 billion LUNC tokens in the past week.

Terraport, a Terra Classic (LUNC) DeFi ecosystem built by TerraCVita, has released its launch roadmap following the end of the public token sale event, which spanned from Feb. 15 through March 15. The newly-released roadmap reveals that Terraport V1 will be launched on March 31.

The Terra Classic community should be preparing to welcome auto-burn and auto-withdraw to the LUNC staking system as a proposal to introduce the features is set for approval via governance voting.

Terra Luna Classic’s total burn reaches nearly 50 billion as a project committing massive weekly burn sends over 106 million LUNC to the burn address. The community burned over 547 million LUNC tokens last week, after a massive 9 billion LUNC burned in the first week of March supported by 8.85 billion tokens burned by Binance.

The Terra Classic (LUNC) staking initiative is experiencing a significant surge in activity, as up to 1,762,058,462 (1.7 billion) tokens have been staked in the past 24 hours, increasing total staked tokens to a massive 964.6 billion. The current figure represents 14.06% of the asset’s total supply.

The independent Terra Classic development group continues to devise strategic ways to revitalize the LUNC project and make the network attractive to DApp builders and investors.

The network will allow the Joint Layer 1 Task Force to synergize efforts with DApp developers.

Garuda Nodes team behind the new play-to-earn (P2E) game on the Terra Classic blockchain Gets Support from Rex to Use TerraCVita Endpoints.

Cremation Coin Burns 51M+ Terra Classic, the Third Largest Burn This Year.

The proposal claims that Zaradar is allegedly predisposed to “bend” the truth for his gains.

LUNC proponents and holders can now enjoy all the functionalities and have a seamless experience on Terra Station — the official wallet application of the proof-of-stake Terra blockchain including transfer and withdrawal. 

The Terra community is now looking forward to the next major burn after the success of the first Binance LUNC burn, and judging by Binance’s official announcement, the next burn might happen as early as April 2. This was first brought to light by prominent Terra Classic validator ClassyCrypto.

Tether Has No Exposure to Sinking Crypto Bank Silvergate, Says CTO; Japanese Popular Manga Captain Tsubasa NFT Sale Starts on March 2, 2023; Elon Musk and Tesla Accepting Bitcoin 'Opened Door' for Adidas' Web3 Plans; Binance Resumes Terra Classic Burns, Incinerates 8.8B LUNC

Binance, the world’s largest cryptocurrency exchange by 24-hour trading volume, has burned a whopping amount of Terra Classic tokens (LUNC). According to data from LunaBurnTracker, the leading cryptocurrency exchange sent 8,849,666,174 (8.84 billion) LUNC worth $1,504,266 ($1.5 million) to the official Terra Classic burn wallet.

The Joint Layer 1 Task Force has completed the Terra Classic v1.1.0 upgrade.