Terra Luna Classic Completes v3.1.5 Upgrade, Binance Expresses Support

Terra Luna Classic developers successfully applied the wasmd security patch included in the v3.1.5 upgrade on September 18.

Terra Luna Classic (LUNC) Burnt Token is backed by Binance, the world's largest crypto exchange, as part of a broader effort being undertaken by the crypto community. This initiative aims to revive the LUNC token, which lost most of its value after the collapse of Terra.

Binance has burned 64.47 billion LUNC tokens in the past two years to support the efforts of the crypto community. This amount of burnt accounts for 48.5% of the total amount of tokens burned across the community.

The Terra community has been collaborating with crypto exchanges and influencers to facilitate the burning of Terra Ecosystem tokens. This initiative was successful in attracting community interest and boosting demand for LUNC tokens.

LUNC token burning is being carried out by virtual currency exchanges. Binance is a cryptocurrency exchange that has been actively supporting the LUNC community's efforts, burning the most LUNC tokens ever.

Terra collapsed in May 2022, greatly impacting the virtual currency market. The collapse resulted in the TerraUSD (UST) stablecoin and LUNA governance token losing nearly all their value, costing crypto investors billions of dollars.

After this collapse, the LUNA governance token was hard forked and a new LUNC token was created. Meanwhile, the UST stablecoin has been renamed to USTC token.

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