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Terra Classic challenge Cremation Coin burned 16,455,507 LUNC tokens on Tuesday. With the newest burn, the newly launched challenge has burned over 28.6 million LUNC tokens in lower than a month. Validators and initiatives operating on the Terra Classic community decide to burn hundreds of thousands of LUNC tokens after crypto exchange Binance briefly suspended its LUNC burn mechanism till March.

Cremation Coin Burns 16 Million Terra Classic (LUNC) Tokens

Cremation Coin, a newly-launched challenge, despatched 16,455,507 Terra Classic (LUNC) tokens to the burn handle, marking the third-largest LUNC burn transaction this month.

Terra basic validator Allnodes leads the tally with over 123 million LUNC tokens burned on January 1. It is adopted by TerraOn line casino challenge that burned over 26 million LUNC tokens in two transactions, 18 million LUNC burned on Jan 1 and eight million LUNC on Jan 9.

The Terra Classic group has in complete burned over 226 million LUNC tokens in January amid the push to extend the burn price. Also, the full LUNC tokens burned by the group has reached over 38 billion LUNC tokens. Moreover, the full LUNC tokens staked has reached virtually 903 billion, with staked provide ratio of 13.14%.

Cremation Coin shared the burn transaction on Twitter, noting the dedication to the group. However, the challenge commits to burn billions in LUNC tokens and wishes the group’s help. It plans to burn 10% of the challenge’s complete transaction quantity in LUNC each week.

“Another 16,455,507 LUNC gone! Great job, but we can do better! We need everyone talking about this project’s potential! New website on the way, AMA tomorrow, staking coming! You better get on now before it takes off.”

The challenge’s complete burns now account for 28,694,091 LUNC, which might have already made it the nineteenth largest burner on LUNC Penguins portal. However, an earlier 12 million LUNC burn was not counted resulting from technical causes. At the time of writing, the Cremation Coin is the twenty third largest LUNC burner, greater than Terra Classic influencer Classy Crypto.

LUNC worth at the moment trades at $0.000172, up 2% within the final 24 hours. The buying and selling quantity has jumped over 40% within the final 24 hours.

Also Read: Will This New Development Help Terra Classic’s (LUNC) Price To 5X?

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his data about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been related to the blockchain and cryptocurrency trade for a considerable interval and is at the moment protecting all the newest updates and developments within the crypto trade.

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