This writer has a vested interest be it monetary, business, or otherwise, with 1 or more of the products or companies mentioned within.
Token burning involves the permanent removal of cryptocurrency tokens from circulation. It is often done by the issuers of crypto tokens to reduce their overall supply, which increases scarcity and subsequently boosts the token’s value. However, the effect of token burns on their price extends far beyond plain tokenomics. Besides the shifts in the supply-demand ratio, token burns change the very way a project is perceived in the market.
How crypto platforms burn their tokens Every crypto project that values its investors should make an effort to maintain the price of its native asset. Doing regular token burns is one of the best ways to achieve that goal. Binance: BNB Auto-Burn BNB – the utility token powering – was released with 200,000,000 tokens of initial supply. The platform’s goal is to reduce it by half.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crypto ETFs Delayed, Rise of SocialFi, Telegram Bots Frenzy: CryptoRank Releases Q3, 2023 ReportCryptoRank, leading analytical website on crypto, covers trends of prolonged decline crypto markets are getting through
Read more »
Crypto Update | Israel War Prompts Crypto Aid Funds, Bitcoin Doesn’t Budge to Latest Macro FactorsNoelle Acheson is the former head of research at CoinDesk and Genesis Trading. This article is excerpted from her Crypto Is Macro Now newsletter, which focuses on the overlap between the shifting crypto and macro landscapes. These opinions are hers, and nothing she writes should be taken as investment advice.
Read more »
Arzdigital Crypto App Exceeds Two Million Downloads Amid Crypto Boom in IranArzdigital, major Iranian crypto tracking application, smashes through critical adoption milestone
Read more »
True Reason Why Crypto Market and Bitcoin Are Absolutely DestroyedEnormous selling pressure miners provide to market might be killing momentum
Read more »
Here’s Why Crypto Prices Are Sliding, But These New Tokens are BullishCrypto Blog
Read more »
Why did Hamas attack Israel, and why now?The Iran-backed Palestinian faction Hamas knew its unprecedented terror attack on Israel would draw a devastating response, so why did it strike?
Read more »