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The latest burn gave some relief to the crypto community amid a continued decline in the LUNC burn rate, with the weekly LUNC burn chart almost appearing flat. advertisement Cremation Coin Burned Over 24 million Terra Classic Tokens As per the burn transaction, Cremation Coin sent 24.04 million LUNC tokens to the burn address on April 25. Also, the transaction fee for the transfer was 48k LUNC . Cremation Coin took to Twitter to announce the latest burn and shared the details of the transactions of both LUNC and CREMAT burns. While other projects and validators have stopped contributing to the LUNC burn campaign to reduce the circulating supply, Cremation Coin burned 24 million LUNC tokens. The total LUNC burns by the Terra Classic community reached 53.45 billion LUNC , with Cremation Coin contributing 368.95 million LUNC in total. However, the drop in the LUNC burn rate as well as the prices raised some concerns for the community. Tr...

Fearing Binance withdrawing its LUNC burn mechanism, the community denied many proposals related to raising LUNC burn and burn tax. However, the sentiment has now changed after LUNC price fell below $0.000010 last week, reaching levels of last May when Terra USD (UST) and LUNA prices collapsed drastically. advertisement Also Read: Terra Classic Project Burns 2 Billion LUNC Tokens, Overtaking Binance Burn Terra Classic Proposal Passed by the Community The four-part proposals will bring major changes to the Terra Classic network and community. CoinGape Media in a previous report cited reasons why Binance may support the Terra Classic community increasing the LUNC burn tax to 0.5%. Proposal 11513 “[1/4] Split Burn Tax with Distribution Module” The text proposal seeks to modify the burn AnteHandler to split the Burn tax to the  Distribution Module instead of the Community Pool. This will increase staking rewards and boost demand for staking, ...