According to Odaily, Catizen, after supporting NOT payments, achieved earnings of over 50 million NOT coins within three days. In response to this, Catizen and Notcoin jointly announced the destruction of 10% of these NOT earnings. This burn significantly reduced the circulating supply of NOT, aiming to enhance the value and market dynamics of the token. The move is seen as a strategic step to increase the token's value and stimulate market activity. The decision to burn a portion of the earnings is a common practice in the cryptocurrency world, often used to create scarcity and drive up the value of a particular token. In this case, the reduction of NOT's circulating supply could potentially lead to an increase in its market value.
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