UPDATE: BINANCE JUST PERMANENTLY BURNED 923 MILLION $LUNC
@binance executed its monthly buyback-and-burn on May 1, removing 923,238,507 $LUNC from circulation, the largest single LUNC burn in months and one of the biggest of the program to date.
The burn comes after weeks of front-running by traders who pushed LUNC up 100%+ over the past 30 days. Now that the event is in the books, the next test is whether the price holds above key support or pulls back in a classic "sell the news" reaction.
The community v4.0.1 upgrade governance vote closes May 6, the next near-term catalyst.