burn – DIGIT INFO

Binance Completes 26th Quarterly BNB Token Burn, Removing $636M Worth

Binance Chain has successfully executed its 26th quarterly BNB token burn, as officially announced by the BNB Foundation. In this latest burn, a total of 2,141,487.27 BNB were eliminated, equivalent to approximately $636 million in market value, according to statements released by Binance. BNB serves as the native cryptocurrency within the BNB Chain ecosystem, powering various components such as the opBNB L2s, BNB Greenfield blockchain, BNB Smart Chain, and BNB Beacon Chain. Holders leverage BNB not only as a means of transactional value but also as a governance token for engaging with projects developed on these chains. According to Binance’s

The post Binance Completes 26th Quarterly BNB Token Burn, Removing $636M Worth appeared first on The Merkle News.

Go to Source

Uniswap founder burns $650B HayCoin against speculation

Uniswap’s Hayden Adams burned 99% of the HayCoin (HAY) supply on Oct. 20 over concerns about price speculation.

Go to Source

Top 5 Strategies For Token Deflation: Fueling Cryptocurrency Price Appreciation

Token deflation has become a sought-after strategy in the cryptocurrency space, as it can drive scarcity and increase the value of a digital asset. Various projects are adopting these strategies to stimulate price appreciation and create a more attractive investment. Here are the top methods used for token deflation: Burn Mechanisms: Many projects employ token burn mechanisms where a portion of the tokens in circulation is intentionally destroyed or “burned.” This reduction in the total supply increases scarcity and theoretically makes each remaining token more valuable. Binance Coin (BNB), for example, conducts regular token burns based on trading volume, effectively

The post Top 5 Strategies For Token Deflation: Fueling Cryptocurrency Price Appreciation appeared first on The Merkle News.

Go to Source

NFT investor accidentally burns $135k CryptoPunk trying to borrow money

While going through the unfamiliar process of wrapping NFTs, Riley accidentally sent the asset to a burn address, permanently deleting the NFT from circulation.

Go to Source

Ethereum price at $1.4K was a bargain, and a rally toward $2K looks like the next step

ETH’s correlation with tech stocks, its increasing total value locked and its deflationary token economics all suggest that the path to $2,000 is programmed.

Go to Source

Alameda tried to redeem 3,000 wBTC days before bankruptcy: BitGo CEO

The CEO of Bitgo stated that the Alameda representative failed the security verification process required to convert wrapped-BTC into BTC.

Go to Source

Damien Hirst livestreams the burning of $10M in art for NFT project

“The Currency” is the name given to Hirst’s NFT project which examines the value of digital art versus physical art.

Go to Source

Binance burns $1.8M in LUNC trading fees following community proposal

According to the crypto exchange, the burn was the equivalent of 1,863,213.47 USDT — roughly 5.5 million LUNC.

Go to Source

LUNC investors react to CZ’s 1.2% trading tax recommendation on Binance

Changpeng Zhao, the CEO of Binance, recommended a flat 1.2% trading tax on LUNC trades that could be burned to reduce the token’s total supply and improve its price performance.

Go to Source

For 38 Consecutive Days Ethereum Gas Fees Record the Lowest Rates Since 2020

In 43 days, the Ethereum network could finally see a full transition from proof-of-work (PoW) to proof-of-stake (PoS) via The Merge. Meanwhile, during the last 38 days, Ethereum’s layer one (L1) onchain transaction fees have dropped below the $5 mark and tumbled even lower by the end of July. At the time of writing, the […]

Go to Source