BURN
675,744 views
178 Posts
Hot
Latest
CRYPTO EDUCATION DAY 10 TOPIC :TOKEN BURN
BURN IN cryptocurrency refers to the process of permanently removing a certain amount of tokens or coins from circulation, thereby reducing their overall supply. This can be done for a variety of reasons, such as to increase scarcity, improve the token's value, or remove tokens that are no longer needed.
There are different methods of token burning depending on the specific blockchain technology being used. For example, some cryptocurrencies will send the tokens to an address that is unspendable or to an address that doesn't have a private key, making the tokens permanently inaccessible. Other cryptocurrencies may use a smart contract that automatically destroys tokens based on a predetermined set of rules.
Burning tokens can have several benefits for the cryptocurrency's ecosystem, including reducing inflation, increasing demand for the remaining tokens, and improving overall network security. Additionally, burning tokens can be a way for cryptocurrency projects to show their commitment to their users and investors by reducing the overall supply of tokens and thereby increasing their value.
It's worth noting that not all cryptocurrencies have a token burning mechanism, and it's up to each individual cryptocurrency's development team to decide whether or not to implement it. Additionally, while token burning can have positive effects on a cryptocurrency's value and ecosystem, it's not a guarantee and should be evaluated on a case-by-case basis.
#BURN #crypto2023
There are different methods of token burning depending on the specific blockchain technology being used. For example, some cryptocurrencies will send the tokens to an address that is unspendable or to an address that doesn't have a private key, making the tokens permanently inaccessible. Other cryptocurrencies may use a smart contract that automatically destroys tokens based on a predetermined set of rules.
Burning tokens can have several benefits for the cryptocurrency's ecosystem, including reducing inflation, increasing demand for the remaining tokens, and improving overall network security. Additionally, burning tokens can be a way for cryptocurrency projects to show their commitment to their users and investors by reducing the overall supply of tokens and thereby increasing their value.
It's worth noting that not all cryptocurrencies have a token burning mechanism, and it's up to each individual cryptocurrency's development team to decide whether or not to implement it. Additionally, while token burning can have positive effects on a cryptocurrency's value and ecosystem, it's not a guarantee and should be evaluated on a case-by-case basis.
#BURN #crypto2023
A transaction took place just 45 minutes ago, where 50,000,000 $USDC tokens were burned at the USDC Treasury. This amount is equivalent to $50,055,000 USD.
Transaction Hash:
0xd05598b578a422749347c3664040a348857973bd6b2a17bb7d719b0e87f553ec
#USDCTREASURY #BURN #usdc
Transaction Hash:
0xd05598b578a422749347c3664040a348857973bd6b2a17bb7d719b0e87f553ec
#USDCTREASURY #BURN #usdc
Salmonation, Renounced Contract, Burn100% dev supply, and extended LP lock
We have renounce smart contract
Proof renounce :
https://bscscan.com/tx/0x81fea1f31095908b5bab32b650e320066fa0432a5a6ffb3f5b41aad861ddfbd7
Proof Burn 100% dev. supply :
https://bscscan.com/token/0x4841181ae4079072ebe83a29b718388a387169e3?a=0x000000000000000000000000000000000000dead
Extended Lock LP:
https://bscscan.com/tx/0xee485eff6e9327ffbf7ef01144072b4215d0f98bc819e398c73e59c59d673f61
CA : 0x4841181ae4079072ebe83a29b718388a387169e3
#salmonation #blockchain #crypto2023 #RENOUNCED #BURN
Proof renounce :
https://bscscan.com/tx/0x81fea1f31095908b5bab32b650e320066fa0432a5a6ffb3f5b41aad861ddfbd7
Proof Burn 100% dev. supply :
https://bscscan.com/token/0x4841181ae4079072ebe83a29b718388a387169e3?a=0x000000000000000000000000000000000000dead
Extended Lock LP:
https://bscscan.com/tx/0xee485eff6e9327ffbf7ef01144072b4215d0f98bc819e398c73e59c59d673f61
CA : 0x4841181ae4079072ebe83a29b718388a387169e3
#salmonation #blockchain #crypto2023 #RENOUNCED #BURN
🔥🐶 Shiba Inu (SHIB) Burn Rate Surges Again, Setting up Trend for Week 📈🔥
Shiba Inu (SHIB) is back in the spotlight, and this time it is for a good reason. The cryptocurrency's burn rate has seen a significant uptick, thanks in part to the reemergence of whale activity on the market. 🚀🔥🐳
While the exact reason behind this sudden surge in whale transactions remains unclear, data suggests that most of the volume is moving to or from cryptocurrency exchanges. This could indicate a variety of strategies, from simple transfers to more complex trading tactics aimed at manipulating volatility. 📈🔄📊
Source: TradingView 📈
Regardless of the intent behind these large transactions, the increased burn rate is a positive development for Shiba Inu. Burning tokens effectively reduces the circulating supply, creating scarcity that could drive up the price. However, it is worth noting that the majority of the transacted volume appears to be related to exchanges, which could mean that the whales are either preparing for a significant move or simply redistributing their holdings. 💼🔥💰
As of the latest data, the price of SHIB stands at $0.000008 USD. This price point could serve as a crucial support or resistance level, depending on the market dynamics that unfold in the coming days. 💹💵📅
The uptick in Shiba Inu's burn rate is a development that investors should keep an eye on. Whether it is a sign of whales positioning themselves for a big move, or simply a redistribution of assets, the increased activity is likely to have an impact on SHIB's price in the short term. 👀📉📈
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please do your own research before investing in any cryptocurrency.
#Shibainu #Shib #BURN #crypto2023 $SHIB
While the exact reason behind this sudden surge in whale transactions remains unclear, data suggests that most of the volume is moving to or from cryptocurrency exchanges. This could indicate a variety of strategies, from simple transfers to more complex trading tactics aimed at manipulating volatility. 📈🔄📊
Source: TradingView 📈
Regardless of the intent behind these large transactions, the increased burn rate is a positive development for Shiba Inu. Burning tokens effectively reduces the circulating supply, creating scarcity that could drive up the price. However, it is worth noting that the majority of the transacted volume appears to be related to exchanges, which could mean that the whales are either preparing for a significant move or simply redistributing their holdings. 💼🔥💰
As of the latest data, the price of SHIB stands at $0.000008 USD. This price point could serve as a crucial support or resistance level, depending on the market dynamics that unfold in the coming days. 💹💵📅
The uptick in Shiba Inu's burn rate is a development that investors should keep an eye on. Whether it is a sign of whales positioning themselves for a big move, or simply a redistribution of assets, the increased activity is likely to have an impact on SHIB's price in the short term. 👀📉📈
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please do your own research before investing in any cryptocurrency.
#Shibainu #Shib #BURN #crypto2023 $SHIB
#SHIB #BURN #BTC Shiba Inu Burns Over 121M Tokens Overnight, Fueling Price Surge!
Shiba Inu (SHIB) witnessed a dramatic surge in its burn rate, setting ablaze over 121 billion SHIB tokens overnight. This sudden spike, a staggering 567% increase from previous levels, has significantly impacted the coin’s overall supply dynamics.
According to data from Shibburn, this substantial burn has propelled the total number of SHIB tokens destroyed to a staggering 410,643,987,410,621, leaving 579,861,188,397,103 SHIB in circulation. The remarkable reduction in supply has not only intensified the scarcity of the token but has also significantly contributed to a rapid upsurge in its market value.
With this relentless reduction in supply, Shiba Inu enthusiasts are eyeing the potential for further price surges. Currently, Shiba Inu is riding high with an impressive 3.48% increase, valuing each token at $0.000007462. The overnight trading volume has witnessed an astounding spike of over 128%, amounting to a substantial $256 million.
This accelerated pace of growth has triggered discussions about the sustainability of Shiba Inu’s momentum. While the challenge of maintaining this extraordinary burn rate remains a concern, the further developments on Shibarium, Shiba Inu’s promising Layer-2 scaling solution, have kindled optimism. Enthusiasts believe that the continuous expansion of Shibarium could play a vital role in further reducing the circulating supply of Shiba Inu tokens, potentially fostering sustained growth in the foreseeable future.
Shiba Inu (SHIB) witnessed a dramatic surge in its burn rate, setting ablaze over 121 billion SHIB tokens overnight. This sudden spike, a staggering 567% increase from previous levels, has significantly impacted the coin’s overall supply dynamics.
According to data from Shibburn, this substantial burn has propelled the total number of SHIB tokens destroyed to a staggering 410,643,987,410,621, leaving 579,861,188,397,103 SHIB in circulation. The remarkable reduction in supply has not only intensified the scarcity of the token but has also significantly contributed to a rapid upsurge in its market value.
With this relentless reduction in supply, Shiba Inu enthusiasts are eyeing the potential for further price surges. Currently, Shiba Inu is riding high with an impressive 3.48% increase, valuing each token at $0.000007462. The overnight trading volume has witnessed an astounding spike of over 128%, amounting to a substantial $256 million.
This accelerated pace of growth has triggered discussions about the sustainability of Shiba Inu’s momentum. While the challenge of maintaining this extraordinary burn rate remains a concern, the further developments on Shibarium, Shiba Inu’s promising Layer-2 scaling solution, have kindled optimism. Enthusiasts believe that the continuous expansion of Shibarium could play a vital role in further reducing the circulating supply of Shiba Inu tokens, potentially fostering sustained growth in the foreseeable future.
Vitalik Buterin's Intriguing Crypto Maneuver: $ETH to $USDC Swap and Burn🔥
In a notable move witnessed just 4 hours ago, Vitalik Buterin, co-founder of Ethereum, executed a strategic swap involving Ethereum (ETH) and USDC stablecoin through CoWSwap.
What makes this transaction particularly intriguing is the subsequent transfer of the acquired USDC tokens to Circle, presumably for burning.
Key Details:👇
#VitalikButerin , utilizing the address 0xd8dA6BF26964aF9D7eEd9e03E53415D37aA96045, initiated a swap of 27.63 ETH for 100,000 USDC via CoWSwap.
Rather than holding onto the USDC, Buterin chose to transfer the tokens to Circle, a prominent financial services firm, potentially for the purpose of burning.
This strategic maneuver raises questions and sparks curiosity within the crypto community about the motives behind Buterin's actions and the potential implications for the #Ethereum ecosystem.
Stay tuned for further updates on this intriguing development!
#usdc #BURN
In a notable move witnessed just 4 hours ago, Vitalik Buterin, co-founder of Ethereum, executed a strategic swap involving Ethereum (ETH) and USDC stablecoin through CoWSwap.
What makes this transaction particularly intriguing is the subsequent transfer of the acquired USDC tokens to Circle, presumably for burning.
Key Details:👇
#VitalikButerin , utilizing the address 0xd8dA6BF26964aF9D7eEd9e03E53415D37aA96045, initiated a swap of 27.63 ETH for 100,000 USDC via CoWSwap.
Rather than holding onto the USDC, Buterin chose to transfer the tokens to Circle, a prominent financial services firm, potentially for the purpose of burning.
This strategic maneuver raises questions and sparks curiosity within the crypto community about the motives behind Buterin's actions and the potential implications for the #Ethereum ecosystem.
Stay tuned for further updates on this intriguing development!
#usdc #BURN
LIVETonWestgate88
--
Bullish
Be patient Be cool enough Wait for win
🚀🌕 LUNC To The Moon 🚀🌕
#BTC
#LUNC
#SHIB
#XRP
$LUNC
🚀🌕 LUNC To The Moon 🚀🌕
#BTC
#LUNC
#SHIB
#XRP
$LUNC
Just 42 minutes ago, a significant amount of 199,999,000 #TUSD (equivalent to 196,233,018 USD) was burned from the address T9yD14Nj9j7xAB4dbGeiX9h8uo8HMMf8e4 on the #TronNetwork .
The transaction hash associated with this burn is: 👇
f9c87345b0ce25ff73bbaf153e78f2f534769968e78224e28c524e8dfde26928.
$TRX #BURN
The transaction hash associated with this burn is: 👇
f9c87345b0ce25ff73bbaf153e78f2f534769968e78224e28c524e8dfde26928.
$TRX #BURN
Shiba Inu Gears Up for Token Burn Feature, SHIB Value Climbs
#SHIBA #BURN #SHIBARIUM
#SHIB
Shiba Inu (SHIB), a popular dog-themed cryptocurrency, has seen a surge in its market value following a key update from its development team. The announcement concerning the upcoming Shibarium #Token Burn feature has sparked increased interest among investors and enthusiasts within the crypto community. This anticipation of a new mechanism for reducing the digital asset’s supply has played a significant role in the token’s price uptick
#SHIBA #BURN #SHIBARIUM
#SHIB
Shiba Inu (SHIB), a popular dog-themed cryptocurrency, has seen a surge in its market value following a key update from its development team. The announcement concerning the upcoming Shibarium #Token Burn feature has sparked increased interest among investors and enthusiasts within the crypto community. This anticipation of a new mechanism for reducing the digital asset’s supply has played a significant role in the token’s price uptick
Celsius Network recently executed a significant move by burning all 652.2 million CEL tokens, amounting to $85.75 million and accounting for 93.7% of the total supply.
As a result, the current total supply stands at 40.6 million CEL, as indicated on CoinGecko. This action potentially contributed to a 7% increase in the CEL price, rising from $0.13 to $0.139 within 7 hours following the burn.
Despite the token burn, CEL continues to be actively traded on various centralized exchanges (CEX), including OKX, Bitget, Gateio, Bybit, and MEXC.
Interestingly, Celsius Network had previously mentioned its intention to burn all CEL tokens in its possession in a September 2023 bankruptcy filing.
However, this token burn was not reiterated when the company announced plans to distribute $3 billion in crypto to creditors in January 2024.
It's worth noting that a test burn of 2 CEL tokens had taken place three months ago on January 24, 2024. This recent mass burn signals a significant shift in Celsius Network's token strategy.
Address: 👇
0x455257963812c008ce8edf3d08cb48e95c8aa2e2
#Celsius $CEL #CEL #BURN
As a result, the current total supply stands at 40.6 million CEL, as indicated on CoinGecko. This action potentially contributed to a 7% increase in the CEL price, rising from $0.13 to $0.139 within 7 hours following the burn.
Despite the token burn, CEL continues to be actively traded on various centralized exchanges (CEX), including OKX, Bitget, Gateio, Bybit, and MEXC.
Interestingly, Celsius Network had previously mentioned its intention to burn all CEL tokens in its possession in a September 2023 bankruptcy filing.
However, this token burn was not reiterated when the company announced plans to distribute $3 billion in crypto to creditors in January 2024.
It's worth noting that a test burn of 2 CEL tokens had taken place three months ago on January 24, 2024. This recent mass burn signals a significant shift in Celsius Network's token strategy.
Address: 👇
0x455257963812c008ce8edf3d08cb48e95c8aa2e2
#Celsius $CEL #CEL #BURN
