According to the LUNC Tech portal, the goal of burning the Terra Classic token is to return its circulating supply to the level of 10 billion LUNC. Given that the figure currently stands at 5.973 trillion LUNC, 5.963 trillion tokens would have to be burned to achieve the goal.
The catch is that it would take 52 years and 8 months at the current burn rate to make this possible.
According to the same source, 34.8 billion LUNC have been burned to date, representing just 0.5% of the token's supply. At the same time, this does not yet take into account the monthly LUNC burn on Binance. In November, for example, the total number of LUNC burned was 6.39 billion tokens, equivalent to $1.19 million.
Tomiwabold OlajideNumber of LUNC holders on rise
Despite the not-so-quick targets taking half a century, the balance of the largest LUNC-holding wallets has grown considerably over the past three months. Thus, while the top 10 and top 100 LUNC holders accounted for 7.88% and 31.27% of the token supply in mid-September, by now the figures are 11.96% and 34.25%, respectively.
In addition, the number of unique addresses on the network increased during the reporting period. Thus, the number now stands at 12,075, an increase of 335 or 2.85%.
Yuri Molchan
Vladislav Sopov
Dan Burgin