40M Terra Classic Burnt in a Day; 25M by a Single Wallet

The Terra Classic Network to Stop Terra LUNC Re-Mints

40M+ LUNC tokens have been burned in total during the last 24 hours, with 25M+ of those tokens coming from only one wallet.

It’s going well with the Terra Classic (LUNC) burn initiative.

 In the last 24 hours, the network has seen 14 burn transactions totaling 40,440,467 LUNC tokens, with one wallet burning up to 25,827,385 tokens at a time.

Happy Catty Crypto’s unofficial Terra-focused monitoring and data-tracking system, LUNC Penguins, recently indexed all 14 transactions. 

Three enormous single burns stood out among the transactions, which totaled 40.4M+ LUNC and were all done on Monday.

One of the Significant Burn Transactions was by Allnodes

On November 28 at 21:22 (UTC), one of the most significant burn transactions took place and involved 25.8 million LUNC tokens. 

According to the message attached to the transaction, which says Allnodes Burn, the burn was likely performed by the independent Terra validator Allnodes, who still upholds its pledge to weekly LUNC incinerations.

A minute after the burn, Allnodes also made the information formally public on its Twitter account. 

According to a story from last month, Allnodes had committed to a weekly burn campaign to support the community’s endeavor. 

The validator pointed out that the weekly burn exercise will stop after the end of the year.

The Second Noteworthy Burn was by LUNC DAO

The second and earliest notable burn transaction occurred on November 28 at 2:29 UTC and entailed the burning of 4.9 million LUNC. 

The transaction appears to have been executed by LUNC DAO, an additional independent Terra validator, using the memo LUNC-DAO-BURN-37, making this the validator’s 37th burn transaction in support of the resurrection initiative.

The Third Significant Transaction was by Terra Casino

On November 28, 18:13 (UTC), a third significant transaction resulted in the burning of 8.9 million LUNC. 

The freshly founded gaming website Terra Casino is connected to the burn transaction. The transaction’s memo is labeled BettingBurn1, and Terra Casino formally accepts responsibility through its Twitter account.

Remember that, following its contentious launch last Saturday, the betting site officially burned its first 1 million LUNC, as recently highlighted.

According to independent LUNC development company TerraCVita, the platform can burn up to 24 billion LUNC in six months. Terra Casino had burned 10.8 million, which it described as a “warming up” figure.

After burning more than 40 million LUNC yesterday, the entire cumulative burn amount—including tax burns—now stands at 28.7 billion LUNC. 

With its involvement in burning 13.7 billion LUNC tokens, Binance tops the list of organizations with the most significant burns. 

Binance switched its burn timeline from weekly to monthly last month. Therefore, the community will anticipate its subsequent burn on December 1, with formal updates following on December 2.


Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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