HTX (@HTX_Global) has successfully completed its third-quarter token burn for 2024, eliminating 15.81 trillion $HTX tokens, valued at $21.25 million.
This burn, conducted just two days ago, marks a continued effort by the platform to enhance the token’s value through strategic supply reduction.
Since March 2024, when HTX initiated its liquidity donation and burn program, the platform has burned a total of 23.61 trillion $HTX.
Additionally, it has donated 16.04 trillion $HTX and 163 million $TRX in liquidity, bringing the overall value of destroyed and donated assets to $72.75 million.
HTX @HTX_Global 2 天前完成了 2024 年第三季度的 $HTX 销毁：第三季度销毁 $HTX 15.81 万亿枚，价值 $2,125 万。https://t.co/YcmmEHKL6U
HTX 自今年 3 月开始实行流动性捐助与销毁以来，累计销毁 23.61 万亿枚 $HTX 、流动性捐助 16.04 万亿枚 $HTX+ 1.63 亿枚 $TRX ，总价值 $7,275 万。
原先… https://t.co/rhFAUctLHO pic.twitter.com/ZyLpMEMuof
— 余烬 (@EmberCN) October 18, 2024
Initially, HTX ran the donation and destruction processes simultaneously.
The liquidity donations were facilitated by HTX DAO, which would add HTX/TRX liquidity to decentralized exchanges (DEX) on the TRX chain before destroying the liquidity pool (LP) certificates.
On the other hand, the token destruction was funded by transaction mining fees, with tokens being sent to a “black hole” address on the TRX chain for permanent removal.
New HTX Shift In Strategy
However, in a recent announcement, HTX revealed a shift in its strategy. Moving forward, the liquidity donation process will be phased out in favor of full destruction. This adjustment means that both liquidity donation and destruction will now be unified into a single, more aggressive destruction strategy to further reduce token supply and potentially bolster its market value.
HTX’s commitment to burning tokens and adjusting its approach reflects an ongoing dedication to managing $HTX’s liquidity and promoting long-term growth for the token and its ecosystem.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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