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Binance burns $230K worth of Terra Classic tokens

Published date:
July 8, 2025
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Updated on:
July 8, 2025
Ayush Pande
Written by:
Ayush Pande
Reviewed by:
Radica Maneva
Binance burns $230K worth of Terra Classic tokens
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Cryptocurrencies can be volatile and high risk. Though our articles are for informational purposes only, they are written in accordance with the latest guidelines from tax agencies around the world and reviewed by certified tax professionals before publication. Learn more about our Editorial Process and Risk Warning.

Crypto exchange Binance burned 2.65B Terra Classic (LUNC) tokens to increase the currency’s value by reducing its overall supply. 

In its eleventh Terra Classic burn round, Binance sent the $230K worth of LUNC tokens to an inaccessible wallet, effectively removing them from circulation. As noted by the blockchain intelligence platform Terra Finder, the exchange paid 13.25M LUNC as transaction fees for the burn transaction. 

Before its crash in May 2022, Terra (UST) was one of the highest-performing stablecoins with a market capitalization nearing $18.5B. Following the Terra-Luna collapse, the original blockchain was rebranded as Terra Classic.

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Since then, The Terra Classic ecosystem has witnessed several attempts at recovering its native token’s value. So far, the crypto community has burned over 68B LUNC coins, with Binance burning more than 35.5B Terra Classic tokens over eleven rounds. 

Unfortunately, the price of Terra Class has not increased considerably over the past months. So far, LUNC is valued at $0.000083, with its price hinging below the $0.0001 mark since June.

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Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

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How we reviewed this article

All Bitcompare articles go through a rigorous review process before publication. Learn more about our Editorial Process and Risk Warning.

Ayush Pande
Written by:
Ayush Pande
Writer

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

About the Author

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

About the Author
Radica Maneva
Reviewed by:
Radica Maneva
Senior Editor

Radica is a Senior Editor at Bitcompare. She has worked for more than a decade at leading publications as an Editor across various industries, including crypto and finance.

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