"Hmmm, you can go far if you burn tokens."
After cryptocurrency exchange giant Binance stopped burning Terra Classic (LUNC) until March, its community continues to burn more than 20 million of the digital asset every week.
According to the LUNC community, they will burn those billions of digital assets in 2023 as part of lead developer Edward Kim's planned roadmap.
It is understood that the validator* nicknamed HappyCattyCrypto has made the highest burn of the week with more than 9 million LUNC followed by Cremation Coin which burned the digital asset by 7.2 million.
*A person responsible for verifying transactions on the blockchain.
Among the fifth largest contributors to the LUNC fire was LUNC DAO which burned 1.62 million of the digital assets, where in total they burned nearly 435.79 million of the tokens.
Meanwhile, last week, the burning of 12 million LUNCs has increased to 4 million after its community burned more than 16 million of the digital asset.
On the other hand, Kim's Proposal 11310 which aims to upgrade the blockchain from v1.0.4 to v1.0.5 in addition to allowing the Joint L1 Task Force to restore the Binance LUNC burning mechanism managed to get approval from the community.
As of this writing, LUNC price is hovering at $0.0001749 in the last 24 hours after dropping to $0.0001667.
