LUNC Price Falls 50%, Burn Rate Goes Up
In the last seven days, the Luna Classic (LUNC) community burned 823.79 million LUNC tokens. This is one of the biggest burn amounts in recent weeks.
The burn numbers between October 10 and October 12 are shown below:
| Date | Amount Burned (LUNC) |
|---|---|
| October 10 | 378 million |
| October 11 | 174 million |
| October 12 | 110 million |
The main reason for this increase is the 50% drop in LUNC’s price. When the price goes down, each LUNC is worth less in dollars. This allows people and exchanges to burn more tokens for the same amount of money.
Even with the lower price, the Luna Classic community continues to show strong support by reducing the total supply and helping the Terra Classic ecosystem grow over time.
