Gate, a popular cryptocurrency exchange, has completed its fourth-quarter token burn for 2024—and the exercise sent a clear signal to the market. It was almost an understated affair, but in reality, Gate burned a whopping 2.9 million GT tokens. You can do the math and figure out that this exercise valued at around $63.88 million was kind of a big deal. 
Gate Token (GT) 2024 Q4 Burn Completed!A total of 2,904,885 $GT were burnt this time, with a value of $63.9 million. More details: https://t.co/5xeJQ7Pskv pic.twitter.com/dRRucfhEc8 — Gate.io (@Gate_io) March 6, 2025 Over the last quarter, Gate’s team seems
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]]>A recent event that drew the eyes of the crypto community was the burning of 13.69% of the total supply of $PENGU tokens. The move saw 12,164,667,616 tokens removed from the circulating supply. Remember, token burns are pretty common in the crypto world. They’re often seen as bullish events, where tokens are literally destroyed to reduce the supply, and hopefully, that leads to an increase in the value of the remaining tokens. Despite the supply shock from the recent burn, however, the price of $PENGU dropped by 12% on the same day, leading to some discussions and debates in the
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The Bonk team initially promised to execute the burn on Christmas Day, but didn’t get around to it until a day later on Dec. 26.
]]>In a market where few AI tokens have reached all-time highs (ATHs) this cycle, $LNQ stands out by achieving multiple ATHs. With its Stochastic RSI currently in an oversold position, another surge could be on the horizon. The team behind $LNQ, @linq_ai, continues to innovate and expand its ecosystem, recently announcing both token burns and the launch of a new product called #Creatr. Additionally, the project has secured several new partnerships, further strengthening its position in the market. Few AI tokens have made ATHs this market cycle and even fewer have made multiple ATHs. $LNQ falls in both categories and
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NOT price will likely undergo a major bullish reversal move in the coming weeks, supported by Notcoin’s initiatives to bring more users to its gaming ecosystem.
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The recently hacked tokenization platform, Holograph, has unveiled a token-burning process to eliminate one billion illegally minted HLG tokens. The Holograph team stated that this process, which has resulted in the burning of more than 53 million tokens so far, is expected to reduce the total number of tokens in circulation to 10 billion. Holograph […]
]]>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
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“Fantom will become the youtube/twitch of blockchain platforms,” commented ecosystem architect Andre Cronje.
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Despite the large burn value, the network is still inflationary until its PoS transition scheduled for Q2 or Q3.
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Bitcoin price is still pinned below $60,000, but the recovery in ETH and altcoins suggests that the current correction could be coming to an end.
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