Terra Classic project Cremation Coin burned 16,455,507 LUNC tokens on Tuesday. With the latest burn, the newly launched project has burned over 28.6 million LUNC tokens in less than a month. Validators and projects running on the Terra Classic network commit to burn millions of LUNC tokens after crypto exchange Binance temporarily suspended its LUNC burn mechanism until March.
Cremation Coin, a newly-launched project, sent 16,455,507 Terra Classic (LUNC) tokens to the burn address, marking the third-largest LUNC burn transaction this month.
Terra classic validator Allnodes leads the tally with over 123 million LUNC tokens burned on January 1. It is followed by TerraCasino project that burned over 26 million LUNC tokens in two transactions, 18 million LUNC burned on Jan 1 and 8 million LUNC on Jan 9.
The Terra Classic community has in total burned over 226 million LUNC tokens in January amid the push to increase the burn rate. Also, the total LUNC tokens burned by the community has reached over 38 billion LUNC tokens. Moreover, the total LUNC tokens staked has reached almost 903 billion, with staked supply ratio of 13.14%.
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