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Binance, the world's largest cryptocurrency exchange, has executed a large-scale token burn, opting to incinerate over 2 billion LUNCs in a single day.

Binance, the world's largest cryptocurrency exchange, has completed its 19th batch of the Terra Luna Classic (LUNC) token burn mechanism, effectively removing 2.21 billion LUNC tokens from circulation.

Shiba Inu (SHIB) and Terra Luna Classic (LUNC) are not out even as fresh meme coins like Bonk and Pepe dominate the headlines. SHIB price has surged for seven straight days and moved to its highest point since May 2022. It has soared by over 263% from its lowest point in 2023.

Binance, the largest crypto exchange, recently burned 2.21 billion Terra Luna Classic (LUNC) tokens, making it a total of over 53 billion tokens burned by the exchange and over 102 billion by the Terra Luna Classic community. The milestone of burning 100 billion LUNC tokens has boosted confidence within the community, highlighting their joint effort to decrease the circulating supply of LUNC tokens.

The world's largest crypto exchange Binance burned 2.21 billion Terra Luna Classic (LUNC) tokens in the 19th batch of the LUNC burn mechanism. As a result, the net LUNC burn by the crypto exchange reaches over 53 billion and the total tokens burned by the Terra Luna Classic community reaches over 102 billion.

Terra Classic hit a marvelous milestone of 100B LUNC burns, but sees more challenges on the way up.

The bullish momentum in the crypto market is ushering in an era of potentially lucrative investments with Dogecoin (DOGE), Sei (SEI), and TerraClassic (LUNC) at the forefront. Priced below the $1 threshold, these digital assets are poised to escalate an investment of just $10 to an impressive $100 by the end of March.

After a turbulent 2022, marked by soaring highs exceeding $100 followed by steep declines, LUNC has once again captured attention within the community. LUNC Price Surges Amid Burn Program In a recent surge, Terra LUNA Classic (LUNC) experienced a notable 14% increase in its price compared to just a week ago, reaching $0.0001407.

Terra LUNA Classic (LUNC) has recently become a hot topic in the cryptocurrency world due to its notable price movements and strategic burn programs to reduce its token supply. After experiencing a rollercoaster ride in 2022, during which LUNC soared to highs above $100 before plummeting to much lower levels, it again grabbed the spotlight.

Terra LUNA Classic's journey as a top-performing coin in the crypto market ended in 2022. Once traded above $100 and reaching an all-time high of $119, its prices later plummeted to as low as $0.000001.

LUNC's history of being a top-performing coin in the crypto market ended in 2022. There was a time when Terra LUNA Classic was traded above the $100 mark and reached an ATH OF $119.

Last year, the SEC claimed that Terraform and Kwon's actions caused over $40 billion in losses for investors, especially those in the U.S. Do Kwon's Extradition Delay Procedural Errors and Complexity: Legal representatives of Do Kwon provided an update on his extradition process from Montenegro in a recent court filing. The filing highlighted a longer-than-anticipated delay due to procedural errors by the High Court.

Do Kwon, the embattled former CEO of Terraform Labs, is currently stranded in Montenegro due to extradition delays, following accusations by the U.S. Securities and Exchange Commission (SEC) of conducting a massive fraudulent crypto scheme.

So, why not dive into the top 3 reasons why LUNC price could hit the $1 mark after BTC halving? Let's check it out!

The U.S. Securities and Exchange Commission has raised significant concerns over Terraform Labs' financial maneuvers, urging the Delaware bankruptcy court to scrutinize a $166 million payment to law firm Dentons. Questionable Financial Moves The SEC revealed a series of financial transactions, with Terraform Labs allegedly transferring $166 million to Dentons since the beginning of 2023.

The SEC has raised concerns that this transaction might have been designed to avoid resolving an impending judgment in the SEC's lawsuit.

The financial watchdog contends the payment may be intended to avoid future judgments and should instead aid investors and creditors.

Terra Luna Classic joined other cryptocurrencies as they rallied this week buoyed by a staggering breakout in Bitcoin price to highs near $64,000. LUNC price, amidst the volatility in the market, doubled down on bullish efforts to blast from a weekly low of $0.0001137 to the current yearly high of $0.0001563.

According to a Reuters report, the US Securities and Exchange Commission (SEC) has raised concerns regarding Terraform Labs' hiring of the law firm Dentons and the payment of litigation costs for its employees during the company's bankruptcy proceedings.

While acknowledging Dentons as legal counsel, the SEC deemed the amount transferred as “extraordinary,” taking action to protect Terraform Lab's assets due to inadequate disclosures and bankruptcy regulation non-compliance. SEC Accuses Terraform Labs of Suspicious Fund Transfers The SEC revealed that Terraform Labs had transferred $122 million to Dentons within 90 days before filing for bankruptcy, a timing the SEC considers suspicious.

The US Securities and Exchange Commission (SEC) accused Terraform Labs of transferring around $166 million to Dentons U.S. LLC, a law firm, under the guise of an Advance Retainer Payment. The SEC views this move as an effort to divert assets from the company ahead of any court decision.

Terra Luna Classic community's campaign to reduce LUNC supply through token burn has hit the 100 billion LUNC landmark. The world's largest crypto exchange Binance has contributed immensely to LUNC burn with its monthly LUNC burn mechanism, accounting for over 51% of the total LUNC burned by the community.

The regulator argued that Terraform Labs "siphoned" the money into an "opaque slush fund for its lawyers."

The U.S. Securities and Exchange Commission (SEC) revealed suspicious movements of Terraform Labs' funds. According to Reuters, the SEC discovered a payment of $166 million to the company's lawyers from Terraform Labs.