What is burbing crypto?
“Burning” crypto means permanently removing a number of tokens from circulation.
The motivation is often to increase the value of the remaining tokens since assets tend to rise in price whenever the circulating supply falls and they become more scarce.
Burning tokens can also benefit those staking tokens to validate transactions in a proof-of-stake protocol. When a large chunk of tokens are removed from circulation, there’s a likely chance they’ll receive a higher U.S. dollar value from their staking rewards.