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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 … Read more
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 Powered by WPeMatico
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 Powered by WPeMatico
The CEO of Bitgo stated that the Alameda representative failed the security verification process required to convert wrapped-BTC into BTC. Go to Source Powered by WPeMatico
“The Currency” is the name given to Hirst’s NFT project which examines the value of digital art versus physical art. Go to Source Powered by WPeMatico
According to the crypto exchange, the burn was the equivalent of 1,863,213.47 USDT — roughly 5.5 million LUNC. Go to Source Powered by WPeMatico
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 Powered by WPeMatico
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 … Read more
Upon a persistent request from the Terra community, Kwon went against his initial plan and publicly shared a burn address for LUNA on May 21. Go to Source Powered by WPeMatico
Following the aftermath of Terra’s UST implosion, the blockchain project’s founder Do Kwon has been actively discussing the Terra ecosystem revival plans and one specific proposal will be voted on May 18. The plan is to fork the blockchain into a new chain that does not include an algorithmic stablecoin, and the newly minted tokens … Read more
