Is Terra Luna Classic being burned?

Could you please clarify for me if Terra Luna Classic is indeed undergoing a burning process? I've heard rumors in the market that tokens are being destroyed to reduce the overall supply and potentially increase the value of the remaining tokens. Is this a legitimate occurrence, or is it merely speculation? If it is true, could you elaborate on the specifics of the burning process and its potential impact on the price and adoption of Terra Luna Classic? Thank you for your time and consideration.