Binance, the world's largest crypto exchange successfully sent 5.59 billion Terra Classic tokens (LUNC) to the burn address.
And the transaction fee is as much as 67.15 million LUNC while the first batch of LUNC trading fee burned is in the period from September 21 to October 2.
It is understood that the price of LUNC jumped 5% after Binance announced the burn trading fee on the spot trading pair and LUNC margin following the Terra community expressing its anger at the "opt-in button" proposal.
While most investors expected Binance to burn 15 billion per week, the first burn figure was a small amount.
This follows because investors use the Binance VIP program to trade with low fees and a calculation of 0.1% in each transaction fee.
Meanwhile, Gokhshtein Media founder David Gokhstein has reportedly shown his interest in LUNC after being a critic for a long time.
As proof, he made a tweet comparing LUNC and Shiba Inu (SHIB) and is confident that a cryptocurrency with utility will give success to the digital asset.
Meanwhile LUNC price surged over 5% to reach a high of $0.00035 in the last 24 hours.
The Terra Classic community aims to increase the burn rate and Binance burns more than 5.5 billion tokens including the burn rate has increased to 464,564,401 LUNC burn per day.
