Many cryptocurrencies use the coin burning mechanism as part of their strategy. Here are some of the most prominent of these coins:
### 1. **Binance Coin (BNB)**
- Binance burns a portion of its BNB coins periodically, as part of its plan to reduce supply and increase value in the long term.
### 2. **Shiba Inu (SHIB)**
- Shiba Inu uses a coin burning mechanism on a regular basis, where amounts of SHIB are burned to enhance its value and increase scarcity.
### 3. **Ethereum (ETH)**
- After the EIP-1559 update, a portion of the transaction fees (gas) on the Ethereum network are burned, which contributes to reducing the supply of ETH.
### 4. **Terra (LUNA)**
- In the Terra system, LUNA is burned to enhance the stability of its stablecoin, where burning operations are used to balance supply and demand.
### 5. **Huobi Token (HT)**
- Huobi burns HT periodically as part of its strategy to manage supply and increase the value of the token.
### 6. **Fantom (FTM)**
- The Fantom network uses a burning mechanism to reduce the supply of FTM, which contributes to increased scarcity and value.
### 7. **Ripple (XRP)**
- A portion of XRP is burned with each transaction, which contributes to reducing the supply over time.
The burning mechanism is a way to direct the market and boost the value of the token, and many projects use it to enhance their sustainability.