Several cryptocurrencies engage in token burning, a process where tokens are intentionally removed from circulation to manage supply and potentially increase value:
- **Ethereum (ETH)**: Burns a portion of transaction fees. Each year, an average of 303,000 ETH tokens are burned, while 918,000 are newly issued[1].
- **Binance Coin (BNB)**: Conducts quarterly burns based on trading volume. In Q1 of 2024, BNB worth $1.17B was burned[1].
- **Shiba Inu (SHIB)**: Has regular community-driven burns. In 2024, 41% of the total supply was burned[1].
- **Ripple (XRP)**: Engages in periodic burns from escrow releases. In 2024, the burn rate increased by 101%, with 636,184 XRP burned worth around $360,000[1].
- **Tron (TRX)**: Regularly burns tokens from transaction fees. In 2024, around 1.3 billion TRX were burned[1].
- **Huobi Token (HT)**: Has a buyback and burn program where tokens are repurchased from the market and then burned. In 2024, Huobi advisor Justin Sun burned 20 million tokens[1].
- **VeChain (VTHO, VET)**: VTHO burns 70% of all transaction fees to control inflation, while VET is not burned per se, but buybacks occur regularly[1].
- **MakerDAO (DAI, MKR)**: Involves a complex process of buybacks, burns, and supply management for both cryptocurrencies[1].
- **Bitcoin Cash (BCH)**: Burns tokens to manage supply, with validator Antpool deciding to burn 12% of all coins earned through mining[1].
- **Stellar (XLM)**: Conducted a significant burn in 2019, reducing the supply by 50%[1].
- **ApeCoin (APE)**: Burns tokens from marketplace fees to stabilize price after the NFT market crash[1].
- **XEN (XEN)**: Engages in significant token burns to manage supply[1].
- **Terra Classic (LUNC)**: Conducts large burns to control supply, with 129 billion LUNC burned[1].
- **Crypto.com (CRO)**: Also engages in token burning[1].
These burns are typically executed by sending tokens to an inaccessible wallet address, often referred to as a "burn address," ensuring that the tokens are permanently removed from circulation[2][3][4].
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