Terraform Labs Burnes LUNC, USTC
This is a news story, published by CoinGape, that relates primarily to USTC news.
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Terra Luna Classic Burns LUNCCoinGape
•Terra Luna Classic Burns LUNC And USTC Holdings, LUNC Price To $1?
72% Informative
Terraform Labs (TFL) has executed a large-scale token burn of 251 billion Terra Luna Classic (LUNC) and 264 million TerraClassicUSD ( USTC ) tokens from circulation.
The burn took out around 4% of the LUNC supply, which stands at around 5.45 trillion tokens.
Analysts attribute the limited price movement to the overall large supply of these tokens, as the recent burn represents only a fraction of the total amount in circulation.
Technical indicators suggest the possibility of a future uptrend.
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