Binance Burned 8.849 Billion LUNC

Binance, the largest crypto exchange in the world burned 8,849,666,174 LUNC tokens by sent them to burn address, it also known as dead wallet. Binance has burned almost 29 billion LUNC. Total LUNC tokens burned by Terra Luna community reached 39.63 billion LUNC. Binance is the main supporter for LUNC burning. Burning LUNC will help LUNC price goes up. However, the amount of LUNC burn need to be large enough in order to make LUNC price goes up.

Check out Luna burnt amount at lunaburntracker.live

Another problem related to LUNC is that after the collapse of UST, DeFi services under Terra ecosystem stop growing, Currently, Anchor Protocol, a DeFi under Terra ecosystem has $560 million total deposit and total collateral of $2.064 billion. On the other hand, before UST collapse total deposit of Anchor was $6.836 billion  and total collaterals was $3.462 billion.

Anchor Protocol before the collapse of UST 

Anchor Protocol after the collapse of UST