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Token burning, explained

Coin Telegraph
Token burning, explained
Coin Telegraph

Explore the impact of token burning and how this process influences cryptocurrency scarcity, its value and the project’s long-term growt

Token burning refers to the process in which a certain amount of cryptocurrency is intentionally removed from circulation, reducing the total supply of available tokens.

Imagine a popular restaurant that takes some tables out of the dining area to make it feel more valuable and exclusive with a limited number of tables. Similarly, cryptocurrency token burning reduces the total supply of tokens, which can potentially increase the value of those that remain.

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Frax Finance Launches Frax Name Service for Decentralized Identity Management

Bitcoin.com
Frax Finance Launches Frax Name Service for Decentralized Identity Management
bitcoin.com
Frax Finance Launches Frax Name Service for Decentralized Identity ManagementFrax Finance has launched the Frax Name Service (FNS), a decentralized identity service that allows users to register unique names on the Frax blockchain. Frax Finance Expands Ecosystem With Launch of Frax Name Service Frax Finance has introduced the Frax Name Service (FNS), a decentralized identity service designed specifically for the Frax ecosystem. FNS is […]
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Taiwan to Unveil Draft Bill Allowing Banks to Issue Stablecoins

Taiwan to Unveil Draft Bill Allowing Banks to Issue Stablecoins

1,500,141,145 Shiba Inu Evaporates in Just 24 Hours As SHIB Burn Rate Soars Over 30,000%

The Daily Hodl
1,500,141,145 Shiba Inu Evaporates in Just 24 Hours As SHIB Burn Rate Soars Over 30,000%
Altcoins
1,500,141,145 Shiba Inu Evaporates in Just 24 Hours As SHIB Burn Rate Soars Over 30,000%

Over 1.5 trillion Shiba Inu (SHIB) tokens have been discarded in the last day as the project’s burn rate sees a massive increase. New data from SHIB burning protocol Shibburn reveals that during the last 24 hours, the burn rate of the dog-themed meme asset has surged by over 30,000% as 1,500,141,145 SHIB have been […]

The post 1,500,141,145 Shiba Inu Evaporates in Just 24 Hours As SHIB Burn Rate Soars Over 30,000% appeared first on The Daily Hodl.

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Taiwan to Unveil Draft Bill Allowing Banks to Issue Stablecoins

Taiwan to Unveil Draft Bill Allowing Banks to Issue Stablecoins

Massive Shiba Inu Whale Accumulates 148,782,308,867 SHIB As the Dogecoin Rival’s Burn Rate Explodes Over 35,000%

The Daily Hodl
Massive Shiba Inu Whale Accumulates 148,782,308,867 SHIB As the Dogecoin Rival’s Burn Rate Explodes Over 35,000%
Altcoins
Massive Shiba Inu Whale Accumulates 148,782,308,867 SHIB As the Dogecoin Rival’s Burn Rate Explodes Over 35,000%

A deep-pocketed crypto trader is accumulating hundreds of billions of Shiba Inu (SHIB) as the dog-themed meme asset sees a massive jump in its token-burning rate. New data from whale-tracking platform WhaleStats reveals that user BlueWhale0073, one of the biggest Ethereum (ETH) whales in the world, has just snapped up 148,782,308,867 SHIB worth $1,651,483 at […]

The post Massive Shiba Inu Whale Accumulates 148,782,308,867 SHIB As the Dogecoin Rival’s Burn Rate Explodes Over 35,000% appeared first on The Daily Hodl.

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Taiwan to Unveil Draft Bill Allowing Banks to Issue Stablecoins

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Shiba Inu Rival Burns 1,000,000,000,000,000 Tokens in Single Transaction in Push To Shrink Supply

The Daily Hodl
Shiba Inu Rival Burns 1,000,000,000,000,000 Tokens in Single Transaction in Push To Shrink Supply
Altcoins
Shiba Inu Rival Burns 1,000,000,000,000,000 Tokens in Single Transaction in Push To Shrink Supply

A rival of dog-themed crypto asset Shiba Inu (SHIB) is burning an eye-popping amount of its token supply as a deflationary measure. In a new announcement, the development team behind Baby Doge Coin (BABYDOGE) says it has burned a staggering quadrillion tokens, worth about $2.6 million at time of writing, from its supply in a […]

The post Shiba Inu Rival Burns 1,000,000,000,000,000 Tokens in Single Transaction in Push To Shrink Supply appeared first on The Daily Hodl.

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Taiwan to Unveil Draft Bill Allowing Banks to Issue Stablecoins

Taiwan to Unveil Draft Bill Allowing Banks to Issue Stablecoins

Cardano Creator Charles Hoskinson Clarifies Crypto Project’s Position on Burning ADA To Reduce Supply

The Daily Hodl
Cardano Creator Charles Hoskinson Clarifies Crypto Project’s Position on Burning ADA To Reduce Supply
ada
Cardano Creator Charles Hoskinson Clarifies Crypto Project’s Position on Burning ADA To Reduce Supply

The creator of smart contract platform Cardano (ADA) is clearing the air on the crypto project’s stance on burning tokens. In response to a social media user who had accused him of “ignorance,” Charles Hoskinson says that burning coins is tantamount to destroying other people’s property. Hoskinson says there aren’t any ADA reserves available to […]

The post Cardano Creator Charles Hoskinson Clarifies Crypto Project’s Position on Burning ADA To Reduce Supply appeared first on The Daily Hodl.

Read more
Taiwan to Unveil Draft Bill Allowing Banks to Issue Stablecoins

Taiwan to Unveil Draft Bill Allowing Banks to Issue Stablecoins

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