Binance kicked off June with an ultra-heavy LUNC token burn. The globe’s largest digital asset exchange by trading volume splashed almost 2.2 billion LUNC, which represents roughly 50% of all Terra Luna Classic (LUNC) related trading pairs on the international exchange.
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However, that’s yet to positively reflect on Luna Classic’s (LUNC) price charts. On the contrary, LUNC’s price succumbed to the broader market trends, showcasing record-high levels of fear on Thursday evening.
LUNC Bumps Into Correction Amid Deflation Campaign
With LUNC whipping up 80% gains since last month, the current double-digit weekly drawdown arrives even after Binance conducted one of the largest LUNC burns of the year. The 2.2 billion is twice larger than April’s 923 million token burns, the best burning record since January, 2026.
All in all, Binance’s historical contribution to the deflationary campaign is around 86 to 87 billion LUNC coins. This accounts for over 50% of total Luna Classic token burns, while community initiatives & on-chain burns constantly contribute smaller figures to the virtual bonfire.
LUNC Staking Stats Fluctuate Between Familiar Levels
Cumulatively, these efforts helped to reduce the over-minted Terra Luna Classic (LUNC) supply from 6.48 trillion to 5.55 trillion today. Long-time holders should also bear in mind that there’s another 895.5 billion locked away via on-chain staking.
All of the staked LUNC has a 21-day un-bonding period to withdraw, so liquidity cannot be pulled all at once. With the current lock-up ratio flashing 13.89%, this testifies to the narrative of long-term holders expecting eventual LUNC price appreciation.
On the other hand, the staking ratio kept floating between 13% to 15% throughout the year, which implies that a number of long-term holders decided to take profits following the altcoin’s rally in April, 2026. Will this profit-taking trend continue in the near-term?
The answer to this question stems from the whale-tracking on-chain metrics. Presently, the Chaikin Money Flow (CMF) indicates extreme profit-taking on the one-hour price charts.
But the biggest tell is the ultra-negative figures on the SuperTrend indicator, combined with the bearish dominance on the Bull Bear Power (BBP) meter. Based on these, the bears are staying for longer than investors riding last month’s LUNC rally had expected to.
Traders are now looking to see if Terra Luna Classic (LUNC) can make a comeback to crypto’s TOP 100 by global market cap. For that to happen, bulls must defend the $0.0000677 demand territory – an area that’s proven itself useful in Luna Classic’s previous bounce back rallies.
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