Crypto Burning of cryptocurrencies.

Ahmedo24

Verified member
If your observe you will discover that most cryptocurrency coins or tokens usually have huge circulation supply and very few of them have limited number of supply however to an extent for coins to grow or increasing price most developers at interval of time usually burn certain percentage of the coin such that the price will increase one of the few coins that are you know that I've experienced burn are binance coin, kucoin native coin, 1 inch coin, ethereum coin.. it is fundamental that when most of them burn the coin the prices usually doubles or much more than. In this I would like us to share the names of coins that you are aware that the developers do burn them as attentive as this could help us to know when to invest in the coins and make money, please share.
 

Mika

VIP Contributor
Burning is a process to manipulate the price of cryptocurrency through artificial measures. Bitcoin attained its height on its own, people invested and invested and made Bitcoin grow very big. Ethereum tried to manipulate the price by burning, but it did not help much. It was abe to gain just about $1000 in value.
 

btaliat

VIP Contributor
I don't know more about the crypto coin but I always like to learn more about crypto coin. I would love to follow up this thread as I am planning to know more of crypto coin just to know the right one to invest, the one to trade with and the one to do away with.
 

Jasmine

VIP Contributor
One of the reasons why Shib coin gained value is because Ethereum Co-founder Vitalki burned 90 percent of shib coin he received from the Shib coin creators. Shib coin creator had sent 50 percent of the coins in circulation to Vitalik. Since a lot of shib coins were burned, the value substantially increased.
 

Ahmedo24

Verified member
One of the reasons why Shib coin gained value is because Ethereum Co-founder Vitalki burned 90 percent of shib coin he received from the Shib coin creators. Shib coin creator had sent 50 percent of the coins in circulation to Vitalik. Since a lot of shib coins were burned, the value substantially increased.
Wow I think that was why the coin was able to make significant rise few months ago that made people millions of Dollars as huge profits and the coin is still not doing bad because it is rising since the last few days. Ethereum also burn significant percentage of it recently which gave it significant rise too. If one knows when coins burn to reduce supply it will be nice.
 

Chibson

VIP Contributor
There are many cryptocurrency projects that adopt burning in order to reduce the circulating supply and increase the value on that particular cryptocurrency. I have witnessed a lot of it ranging from the binance coin and kucoin coin. There's also another failed project that tried to do that but they didn't really succeed. The name is safe wolf.
 

Ahmedo24

Verified member
There are many cryptocurrency projects that adopt burning in order to reduce the circulating supply and increase the value on that particular cryptocurrency. I have witnessed a lot of it ranging from the binance coin and kucoin coin. There's also another failed project that tried to do that but they didn't really succeed. The name is safe wolf.
I didn't know that kucoin exchange platform also have coins that they burn I have registered with that platform but I'm not really too used to it. Almost all shit coins adopt the strategy of burning to reduce the supply of their coins to boost the value, it is not a bad one in my opinion.
 

Alexandoy

VIP Contributor
I still cannot comprehend the reason for burning. If I have a billion coin with the price of 50 in the market, how much will the price increase if I would burn 100 million worth? Will the price increase compensate for the value of the burned coin? In another forum a reply said that the burned coin is not for recovery. It is burned to push up the price and the developer loses a big amount.
 

Ahmedo24

Verified member
I still cannot comprehend the reason for burning. If I have a billion coin with the price of 50 in the market, how much will the price increase if I would burn 100 million worth? Will the price increase compensate for the value of the burned coin? In another forum a reply said that the burned coin is not for recovery. It is burned to push up the price and the developer loses a big amount.
the burning is usually done by the developers because they are automatically the whale holding significant amount of such coin so when the burn is done the value definitely increase where by the decrease will be in the volume of circulation total circulation and this is usually done at interval of 4 months mostly for native coins.
 
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