There’s an Insatiable Urge to Burn Crypto — A Look at Why Projects Burn Token...
In recent times, cryptocurrencies that burn tokens have been very popular and a number of well known blockchain projects have destroyed large sums of digital assets. While a number of crypto projects have different burn schemes, the overall effect is usually the same, as destroying tokens reduces the circulating supply. Blockchain Projects Burn Tokens for Specific Benefits and Objectives Burning tokens has been a popular trend and articles often highlight specific projects like Ethereum, Terra, Shiba Inu, and many more that have destroyed large sums of native tokens. ....
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Off the back of the much-anticipated Shibarium launch, the SHIB burn rate has seen a tremendous rise. This surge in the burn rate comes despite the Layer 2 blockchain running into problems on the day of its launch last week, and still being in private mode. But while it could point to renewed vigor among the meme coin’s investors, something else seems to be driving this accelerated burn rate. SHIB Burn Rate Is Up 1,108% In One Day According to data from Shiba Inu burn tracking website Shibburn, there has been a remarkable increase in burn rate in the last 24 hours compared to the prior....
The Shiba Inu (SHIB) community has been burning tokens for a while now. This burn is in an effort to reduce the supply of the meme coin, thereby increasing its value. There have been times where the burn has not been as high as expected but the community has been increasing its efforts to burn […]
Binance has successfully carried out another quarterly scheduled burn. This marks the 17th routine burn that the cryptocurrency exchange has carried out since it had launched its native token back in 2017. Binance has not missed a single scheduled burn since that time and will continue to carry out these burns every quarter. Binance burns 20% of its quarterly earnings, which suggests how much the crypto exchange has brought in that quarter. The latest burn suggests that the company may have made over $4 billion in the 3rd quarter of 2021. Burning Millions Worth Of BNB The cryptocurrency....
The Shiba Inu community burn has picked up steam once more after a week of subpar performance. The SHIB burn initiative which is looking to drastically reduce the amount of SHIB tokens in circulation burned over 17 million tokens in one day, a significant jump from the prior day’s figures. Shiba Inu Burn Rate Up […]
Crypto volatility is a much-feared aspect of the crypto ecosystem, majorly responsible for slow crypto adoption. Many crypto projects tackle this challenge by using different security and stability mechanisms. However, BuyBack and token burn are amongst the most successful ways to ensure a constant price rise of the token, and that the token price is not affected by the market drops. EverRise is one of the most popular platforms which uses the BuyBack and token burn mechanism to ensure that RISE token’s price remains stable, even during market crashes. Token burn is a popular mechanism....