|
While burning a financial asset might sound extreme, burning crypto tokens is a fairly common.
Token burning is a strategy followed by cryptocurrency projects to influence the price of a token, or coin, in the market. This is done by permanently removing some tokens from circulation. While the major cryptos (Bitcoin and Ethereum) don’t have token burning programs, many strong Altcoins use it. For instance, Binance has a target of burning 100 million BNB tokens, while there are similar practices for both USDT Tokens (issued by Tether) and XRP coins (issued by Ripple). The most popular token for burn mechanisms is SAFEMOON Tokens (issued by SafeMoon) which inspired the creation of the contract FJUST contract.
0 Comments
|
RSS Feed