Binance Burns 355.88 Million LUNC in October as Burn Program Continues
Binance has started October with another major LUNC burn, sending more than 355 million Terra Classic tokens to the burn address in two separate transactions on October 1.
According to the reported on chain transactions, Binance burned a total of 355,886,554 LUNC during the first day of October. The latest burn continues Binance’s ongoing LUNC burn program, which uses a portion of trading fees generated on the platform to purchase and burn LUNC.
Binance Records Two LUNC Burns on October 1
Unlike a single burn transaction, Binance recorded two separate LUNC burn transactions on October 1.
| Burn Transaction | LUNC Burned |
|---|---|
| First transaction | 334,879,422 LUNC |
| Second transaction | 21,007,132 LUNC |
| Total | 355,886,554 LUNC |
The first transaction accounted for the majority of the October 1 burn, with 334,879,422 LUNC sent to the burn address.
A second transaction followed with another 21,007,132 LUNC, bringing the total for the day to 355,886,554 LUNC.
Burn Comes From Binance’s Ongoing LUNC Program
The October burn is part of Binance’s established LUNC burn program. Under the program, Binance uses 50% of the trading fees accumulated during the previous month for the LUNC burn.
For the October 1 burn, the mechanism applies to trading fees accumulated during September.
This means the latest burn represents another cycle in Binance’s continuing contribution to the reduction of the LUNC supply.
Why the October Burn Matters for LUNC
LUNC has a large circulating supply, making sustained and measurable burns an important part of the Terra Classic ecosystem’s ongoing supply reduction efforts.
A single burn transaction does not fundamentally change the overall supply by itself. However, recurring burns can gradually reduce the number of LUNC in circulation over time.
The latest 355.89 million LUNC burn also adds to the cumulative amount of LUNC burned through Binance’s program since the exchange began supporting the initiative.
Two Transactions Recorded on the Same Day
The most notable detail from the latest burn is that Binance completed the October 1 burn through two separate transactions.
The first transaction burned 334.88 million LUNC, while the second added another 21.01 million LUNC.
Together, the transactions resulted in more than 355.88 million LUNC being sent to the burn address.
As Binance continues its monthly burn process, the Terra Classic community will continue to monitor the exchange’s burn transactions and their contribution to the broader LUNC supply reduction effort.
The October 1 burn provides another measurable update for the LUNC community as Binance’s ongoing burn program continues.
