Shiba Inu Not the Only One Burning

Shiba Inu is not the only crypto project to have adopted a burning mechanism, with Binance Coin (BNB) and Floki Inu (FLOKI) being some evedent examples.

The team behind BNB conducts quarterly burns, a process that involves buying back and permanently destroying a portion of the asset from the market, funded by a chunk of Binance’s profits. The ultimate goal is to reduce the total supply to 100 million BNB. The latest such action occurred at the end of April and resulted in 1,944,452.51 tokens being burned.