Token Burn $BONK - December 25
This Wednesday, the developers of the meme cryptocurrency Bonk will burn almost 204 billion tokens.$BTC $LINK
At the current price of BONK at $0.00003077, the total number of tokens to be burned - 203,750,000,000 - amounts to a significant sum of $6,269,387.
Token burning is an important part of the tokenomics of projects. This mechanism helps protect coins from devaluation and rewards those who are willing to buy and hold the asset for as long as possible. The essence of burning is that it creates artificial scarcity of coins, thereby pushing the asset price up, increasing its value for investors.
Most often, coins are burned by projects with unlimited issuance, for example - another meme coin Shiba Inu. In the past, the team and community of projects have especially actively "destroyed" tokens. For instance, at the beginning of this year, the community burned a whole 12 trillion SHIB in just 24 hours, increasing the burn rate to 300%.
Apparently, such a policy by Bonk achieves the set goal: earlier, BeInCrypto reported that BONK topped the list of the most valuable meme coins on Solana.#2024withBinance #2024Crypto