Best Owie on Twitter<\/i><\/b><\/a> for market insights, updates, and the occasional funny tweet\u2026<\/i><\/b><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"LUNA Classic (LUNC) is still receiving a lot of support from investors and firms in the space despite having lost a significant portion of its value after the Terra network crash. LUNC\u2019s supply ballooned during this time, reaching trillions of tokens in circulation. This increased supply continues to hinder the increase in price for the digital asset, prompting various burn initiatives to help reduce its supply. More Than 24 Billion LUNC Burned Since the LUNC burn was implemented a couple of months ago, it has ramped up to include burns from Binance, the largest crypto exchange in the world. The 1.2% burn tax on all LUNC transactions has also helped the burned figure, making it one of the most reliable avenues for burning LUNC. Related Reading: $185 Million Worth Of AXS Tokens Set To Be Unlocked, Time To Get Out Of Axie Infinity? Binance\u2019s burn is now about one month in the making and the exchange has already burned billions of LUNC. The latest Binance burn saw 1.3 billion tokens being taken out of circulation. However, one thing was apparent and that is the fact that the amount of LUNC being burned by the exchange has consistently declined over the last 4 weeks.\u00a0 This is understandable given that the burned tokens are those realized from trading fees and LUNC trading volume has been on the decline. Nevertheless, there is already more than 24 billion LUNC burned so far. This translates to over $5.5 million worth of tokens burned at today\u2019s price.\u00a0 LUNC price at $0.00023 | Source: LUNCUSD on TradingView.com Burn Rate Too Slow Even though there have been millions of dollars worth of tokens burned, it is still so insignificant compared to the supply of the digital asset. The Binance burns were expected to bring about large burns but Monday\u2019s burn saw only about $300,000 worth of tokens burned. There is also the fact that the burn tax for LUNC on-chain transactions is being reduced from 1.2% to 0.2% and exchanges such as Binance have already begun to implement this burn. However, off-chain transactions are still subject to the burn tax. What this means is that there is going to be an even lower burn rate going forward given the lower burn tax. It impacts the digital asset\u2019s price because there are not enough tokens being taken out of circulation. Related Reading: ARK Invest\u2019s Cathie Wood Puts Bitcoin At $1 Million In 8 Years, Here\u2019s Why Additionally, the daily volume across exchanges is on the decline. Data from Coinmarketcap shows it is down almost 50% in the last 24 hours. If the trading volume is low, then there are lower trading fees to be burned, coming full circle of the burn rate being too slow. LUNC is currently trading at $0.00023 at the time of this writing. It is the 35th largest cryptocurrency with a market cap of $1.5 billion. Featured image from MEXC Blog, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026<\/p>\n","protected":false},"author":541,"featured_media":507743,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[85583],"tags":[86067,87315,86792,86977,86796],"class_list":["post-507739","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-terra-luna","tag-lunc","tag-lunc-burn","tag-lunc-price","tag-luncusd","tag-luncusdt"],"acf":[],"yoast_head":"\n
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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/ktsl888.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Total LUNC Burned Crosses 24 Billion, But Is It Enough?","url":"http:\/\/ktsl888.com\/news\/terra-luna\/total-lunc-burned-crosses-24-billion-but-is-it-enough\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/terra-luna\/total-lunc-burned-crosses-24-billion-but-is-it-enough\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/10\/LUNA-Classic-LUN.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/10\/LUNA-Classic-LUN.jpeg?fit=1024%2C576"},"articleSection":"Terra (LUNA)","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["lunc","lunc burn","lunc price","luncusd","luncusdt"],"dateCreated":"2023-10-25T17:00:52Z","datePublished":"2023-10-25T17:00:52Z","dateModified":"2023-10-25T17:00:52Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Total LUNC Burned Crosses 24 Billion, But Is It Enough?\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/terra-luna\\\/total-lunc-burned-crosses-24-billion-but-is-it-enough\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/terra-luna\\\/total-lunc-burned-crosses-24-billion-but-is-it-enough\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/LUNA-Classic-LUN.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/LUNA-Classic-LUN.jpeg?fit=1024%2C576\"},\"articleSection\":\"Terra (LUNA)\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"lunc\",\"lunc burn\",\"lunc price\",\"luncusd\",\"luncusdt\"],\"dateCreated\":\"2023-10-25T17:00:52Z\",\"datePublished\":\"2023-10-25T17:00:52Z\",\"dateModified\":\"2023-10-25T17:00:52Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/10\/LUNA-Classic-LUN.jpeg?fit=1024%2C576","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/507739"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=507739"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/507739\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/507743"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=507739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=507739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=507739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}