🔥Burning of cryptocurrency - What is it and how it effects ?
So we all must have came across the term burning while Being in the crypto space but what does that exactly means ?
Burning means Sending Crypto into an wallet in which transactions or withdraws can’t be made ( I,e coins only Can be recieved and no other operation could be peformed on it )
With the burning The Circulating supply of a coin is reduced and as we all know supply and price has an inverse relation ( I,e More the supply lesser the price and vice versa ) so burning increases the price of rest of the supply
But it isn’t necessary that buring would increase the price if the market sentiment isn’t favourable the price would continue decline no matter what
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