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Find out how much LUNA has been destroyed since the burning title was published

Find out how much LUNA has been destroyed since the burning title was published

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Answer Find out how much LUNA has been destroyed since the burning title was published

On May 21, Do Kwon, CEO and founder of the now-talk of the hour, Terra, posted on Twitter the address of the burn wallet, where people can send their LUNA cryptocurrency to burn.

The tweet quickly became one of “Do Kwon’s” tweets, and the published wallet (burning wallet) quickly received nearly 280 million LUNA coins.

The total amount of LUNA sent to the burning address was 289 million LUNA, and the total number of transactions reached 2,719, which means that the average number of cryptocurrencies sent to burn in one transaction was about 107,000 LUNA.

Read:ConsenSys launches NFT tokens platform

Two days after the burning address was published, on May 23, Do Kwon clarified that sending LUNA to this address only made sense for the cryptocurrency to be lost.

Notably, 254 million LUNA were sent to the wallet from the time the address was first published until the idea was tweeted about the futility of the idea, and only 25 million after that.

Has the price of the digital currency LUNA affected?

The burning of nearly 300 million LUNA had little impact on the LUNA’s price and market value.

This is mainly due to the very large inflation that happened to the currency LUNA, which reached 7 trillion.

Currently, the price of the digital currency LUNA is trading at $0.0001616, with a total market value of $1 billion, according to coinmarketcap.

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