Binance has burned LUNC worth around $1.8 million obtained through spot and margin trading.
As a result of this and other developments, the altcoin has surpassed other tokens such as Ethereum.
Binance, the largest crypto exchange in the world
According to a tweet from Binance CEO Changpeng Zhao, the fire destroyed around $1.8 million in LUNC gathered via spot and margin trading (CZ).
To "burn a token," send a coin to a specified address whose keys are unknown.
Because no one can access them, the tokens are considered destroyed.
This behaviour decreases the circulating quantity of tokens, which is positive for the price.