Binance, the world's largest crypto exchange, has burned 1.27 billion Terra Luna Classic (LUNC) tokens in the ninth batch of the monthly LUNC burn mechanism. The burn reduced the LUNC circulating supply and brought Binance's total burned LUNC tokens to 31.83 billion. However, traders did not immediately respond to the latest burn.

The decline in the LUNC burn rate is due to a fall in spot and market trading volume, and Binance now burns only 50% of the LUNC spot and margin trading fees instead of 100%. The Terra Classic community is working to increase utility to the chain and revive LUNC and USTC to $1. The LUNC price is currently trading at $0.000107 and is under pressure until it recovers over the key support level of $0.00012.