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Since EIP-1559 was implemented, a grand total of 2.8 million ETH has been removed from circulation or roughly $4.6 billion at today’s prices.
#crypto2023 #ETH #ethereum #burn #cryptoonindia
#crypto2023 #ETH #ethereum #burn #cryptoonindia
Shiba Inu Ablaze With 30,000% Burn Rate – Will This Fire Up SHIB Price?
While it may have been created only in 2020, Shiba Inu – a decentralized cryptocurrency that operates on the Ethereum blockchain – has already gained a significant following because of its catchy dog-themed branding and low transaction fees. In fact, Shiba Inu is the second-biggest meme coin, and it has an enthusiastic community known as the “SHIB Army.”
One of the most significant developments in the Shiba Inu ecosystem is the Shiba Inu Burn initiative, whose main objective is to limit supply of the coins in circulation, create scarcity, and force an increase in the token’s price.
Shiba Inu: Burning Milestone
A total of 2 billion SHIB tokens have been burned since Thursday morning, a remarkable feat for the SHIB Army.
With around 590 trillion SHIB in circulation, the overall goal of the ecosystem is to reduce the supply and increase the demand for SHIB tokens. This scarcity ultimately forces a price increase, making the SHIB token more valuable to investors.
However, the increase in burn rate has not lifted the price of the meme coin. At the time of writing, SHIB was trading at $0.00001008, down 11.00% in the last seven days.
SHIB has lost 30% of its price in the last 30 days, up 7% from its bi-weekly figure, according to data from crypto market tracker Coingecko.
In the last 24 hours, the meme coin has shed nearly 9% of its value as a result of the negativity surrounding the broader crypto market, data shows.
Shibarium Beta Launch This Week
Meanwhile, Shibarium, the rapid layer-2 upgrade for the SHIB ecosystem, is kicking off.
On Thursday, the Shiba Inu development team announced that a beta testnet, or a blockchain that mimics real-world functioning, is scheduled to be live this week. Users have been advised to keep an eye out for more information on how to access the Beta version.
Thousands of developers and proponents of SHIB have shown their support for the Shibarium protocol. As interest in SHIB tokens accelerates, it is anticipated that the number of coins purchased will likewise soar.
Members of the Shiba Inu community are now enthusiastic about the impending network expansion.
Significantly, the launch might substantially strengthen Shiba’s fundamentals as the “Dogecoin Killer” strives to become a more serious project instead of just being content about its meme coin status.
#shibainu #shibarium #burn #koinmilyoner #buildtogether
One of the most significant developments in the Shiba Inu ecosystem is the Shiba Inu Burn initiative, whose main objective is to limit supply of the coins in circulation, create scarcity, and force an increase in the token’s price.
Shiba Inu: Burning Milestone
A total of 2 billion SHIB tokens have been burned since Thursday morning, a remarkable feat for the SHIB Army.
With around 590 trillion SHIB in circulation, the overall goal of the ecosystem is to reduce the supply and increase the demand for SHIB tokens. This scarcity ultimately forces a price increase, making the SHIB token more valuable to investors.
However, the increase in burn rate has not lifted the price of the meme coin. At the time of writing, SHIB was trading at $0.00001008, down 11.00% in the last seven days.
SHIB has lost 30% of its price in the last 30 days, up 7% from its bi-weekly figure, according to data from crypto market tracker Coingecko.
In the last 24 hours, the meme coin has shed nearly 9% of its value as a result of the negativity surrounding the broader crypto market, data shows.
Shibarium Beta Launch This Week
Meanwhile, Shibarium, the rapid layer-2 upgrade for the SHIB ecosystem, is kicking off.
On Thursday, the Shiba Inu development team announced that a beta testnet, or a blockchain that mimics real-world functioning, is scheduled to be live this week. Users have been advised to keep an eye out for more information on how to access the Beta version.
Thousands of developers and proponents of SHIB have shown their support for the Shibarium protocol. As interest in SHIB tokens accelerates, it is anticipated that the number of coins purchased will likewise soar.
Members of the Shiba Inu community are now enthusiastic about the impending network expansion.
Significantly, the launch might substantially strengthen Shiba’s fundamentals as the “Dogecoin Killer” strives to become a more serious project instead of just being content about its meme coin status.
#shibainu #shibarium #burn #koinmilyoner #buildtogether
#Ethereum network has burned more than 3 million #ETH since EIP-1559.
Worth more than 9.09 billion U.S. dollars.
#crypto2023 #Ethereum #burn
Worth more than 9.09 billion U.S. dollars.
#crypto2023 #Ethereum #burn
TRON deflationary day. 14,694,222 TRX have been burned and a net increase of -9,627,007 TRX has occurred.
#Binance #keepbuilding #crypto2023 #BTC #burn
#Binance #keepbuilding #crypto2023 #BTC #burn
Is it Possible for XRP to Reach $100?
#XRP , one of the market's most renowned cryptocurrencies, has seen a stunning increase in its daily burn rate, generating discussion about its ability to go on a bull run.
The expert believes that the cryptocurrency, which is now trading below $1, will reach $100 in the near future and has supplied evidence.
The increase in XRP's daily burn rate has piqued the crypto community's curiosity. The entire supply of XRP was 99,988,863,851 only a month ago. Nevertheless, it has now fallen to 99,988,616,835, a decrease of 247,016 XRP.
With the total supply of XRP reducing by 247,016 in only 30 days, corresponding to an average of around 8,233 XRP burnt every day, the scene is set for a possible rising trend that might lead to a considerable increase in the value of XRP.
As compared to prior months' numbers, the current 247,016 burnt $XRP marks a huge rise. This development has spurred crypto aficionados to speculate on the possibility of additional growth and if it may propel XRP's value to previously unheard-of heights.
The increasing burn rate and associated decrease in XRP supply has caused a frenzy among investors. That shows the prospect of a positive trend, with the burn rate possibly increasing even more as billions of dollars flood into the cryptocurrency market.
A deeper dig into the variables behind the increased burn rate yields significant information, as Neil Hartner, a Software engineer at Ripple, shed light on the matter, attributing the rise to the deletion of XRPL accounts, since a deleted account equals two XRP burnt.
Hartner especially mentioned Poloniex, a large cryptocurrency exchange that recently terminated 85,566 obsolete XRPL accounts. This move alone resulted in the destruction of 171,132 XRP.
The notion of XRP hitting $100 per token gets traction as the burn rate rises and the supply of XRP decreases.
Although some may be skeptical of such a big assertion, the steady rising trend in the burn rate gives a convincing case if it continues on this scale.
The rising #burn rate and the termination of XRPL accounts by major exchanges reflect the changing face of the crypto industry. Investors and fans are keeping a careful eye on these developments, anticipating the future value of XRP and the possible benefits it may offer.
Notwithstanding these changes, the current trading price of XRP is $0.4883, with a market capitalization of more than $25.5 billion.
The expert believes that the cryptocurrency, which is now trading below $1, will reach $100 in the near future and has supplied evidence.
The increase in XRP's daily burn rate has piqued the crypto community's curiosity. The entire supply of XRP was 99,988,863,851 only a month ago. Nevertheless, it has now fallen to 99,988,616,835, a decrease of 247,016 XRP.
With the total supply of XRP reducing by 247,016 in only 30 days, corresponding to an average of around 8,233 XRP burnt every day, the scene is set for a possible rising trend that might lead to a considerable increase in the value of XRP.
As compared to prior months' numbers, the current 247,016 burnt $XRP marks a huge rise. This development has spurred crypto aficionados to speculate on the possibility of additional growth and if it may propel XRP's value to previously unheard-of heights.
The increasing burn rate and associated decrease in XRP supply has caused a frenzy among investors. That shows the prospect of a positive trend, with the burn rate possibly increasing even more as billions of dollars flood into the cryptocurrency market.
A deeper dig into the variables behind the increased burn rate yields significant information, as Neil Hartner, a Software engineer at Ripple, shed light on the matter, attributing the rise to the deletion of XRPL accounts, since a deleted account equals two XRP burnt.
Hartner especially mentioned Poloniex, a large cryptocurrency exchange that recently terminated 85,566 obsolete XRPL accounts. This move alone resulted in the destruction of 171,132 XRP.
The notion of XRP hitting $100 per token gets traction as the burn rate rises and the supply of XRP decreases.
Although some may be skeptical of such a big assertion, the steady rising trend in the burn rate gives a convincing case if it continues on this scale.
The rising #burn rate and the termination of XRPL accounts by major exchanges reflect the changing face of the crypto industry. Investors and fans are keeping a careful eye on these developments, anticipating the future value of XRP and the possible benefits it may offer.
Notwithstanding these changes, the current trading price of XRP is $0.4883, with a market capitalization of more than $25.5 billion.
Klaytn Foundation's burning proposal was accepted by the council members. 7,281 Billion KLAYs that are not in circulation, or 75% of the reserve, will be burned.
#klaytn #burn #circulation #circulatingsupply #DAO
#klaytn #burn #circulation #circulatingsupply #DAO
PancakeSwap Destroys Over $27M Worth Of CAKE Tokens In Latest Burn Event
In a recent announcement, PancakeSwap, a decentralized exchange built on Binance Smart Chain (BSC), has burned a staggering 6,991,501 CAKE tokens, which is equivalent to $27 million. The news has caused a stir in the cryptocurrency market, and investors are eagerly awaiting the impact of this event.
The token burn event is a regular occurrence in the world of cryptocurrencies, where a certain percentage of the tokens in circulation are destroyed to reduce the total supply. In PancakeSwap’s case, the token burn is a deflationary measure designed to increase the value of its native token, CAKE, and protect it from inflation.
According to the tweet by PancakeSwap, the token burn includes various revenue streams generated by the platform. The trading fees from swap and perpetual contracts contributed the most to the burn, with 134k CAKE tokens worth $510k, representing a decrease of 47% from the previous week. The prediction market contributed 86k CAKE tokens worth $329k, an increase of 3% from the previous week. The lottery contributed 24k CAKE tokens worth $91k, representing a decrease of 32% from the previous week. The NFT market, profile, and factory contributed 422 CAKE tokens worth $2k, a decrease of 25% from the previous week.
The token burn is expected to have a positive impact on the value of CAKE, as it reduces the total supply of the token, making it scarcer and more valuable. PancakeSwap’s popularity has been growing in recent months, with the exchange gaining traction due to its low transaction fees and high liquidity. The exchange has been successful in attracting investors from other platforms such as Uniswap, which has led to a surge in the value of its native token.
PancakeSwap’s token burn event is a sign of its commitment to the long-term growth of its platform and the value of its native token. The deflationary measure is expected to help maintain the token’s value and protect it from inflation, making it a more attractive investment option for cryptocurrency traders and investors.
In conclusion, PancakeSwap’s token burn event has caused a stir in the cryptocurrency market, with investors eagerly awaiting the impact of the event. The deflationary measure is expected to increase the value of CAKE and protect it from inflation, making it a more attractive investment option for cryptocurrency traders and investors.
Read more: https://azcoinnews.com/pancakeswap-destroys-over-27m-worth-of-cake-tokens-in-latest-burn-event.html
#pancakeswap #cake #Binance #BTC #burn
The token burn event is a regular occurrence in the world of cryptocurrencies, where a certain percentage of the tokens in circulation are destroyed to reduce the total supply. In PancakeSwap’s case, the token burn is a deflationary measure designed to increase the value of its native token, CAKE, and protect it from inflation.
According to the tweet by PancakeSwap, the token burn includes various revenue streams generated by the platform. The trading fees from swap and perpetual contracts contributed the most to the burn, with 134k CAKE tokens worth $510k, representing a decrease of 47% from the previous week. The prediction market contributed 86k CAKE tokens worth $329k, an increase of 3% from the previous week. The lottery contributed 24k CAKE tokens worth $91k, representing a decrease of 32% from the previous week. The NFT market, profile, and factory contributed 422 CAKE tokens worth $2k, a decrease of 25% from the previous week.
The token burn is expected to have a positive impact on the value of CAKE, as it reduces the total supply of the token, making it scarcer and more valuable. PancakeSwap’s popularity has been growing in recent months, with the exchange gaining traction due to its low transaction fees and high liquidity. The exchange has been successful in attracting investors from other platforms such as Uniswap, which has led to a surge in the value of its native token.
PancakeSwap’s token burn event is a sign of its commitment to the long-term growth of its platform and the value of its native token. The deflationary measure is expected to help maintain the token’s value and protect it from inflation, making it a more attractive investment option for cryptocurrency traders and investors.
In conclusion, PancakeSwap’s token burn event has caused a stir in the cryptocurrency market, with investors eagerly awaiting the impact of the event. The deflationary measure is expected to increase the value of CAKE and protect it from inflation, making it a more attractive investment option for cryptocurrency traders and investors.
Read more: https://azcoinnews.com/pancakeswap-destroys-over-27m-worth-of-cake-tokens-in-latest-burn-event.html
#pancakeswap #cake #Binance #BTC #burn
1000 dollars in $SHIB is Turning to $100k ? But how?
in this article i am gonna explain you that today investment in shib is how much profitable in few days.
first of all we need to understand that what is shib?
Shiba Inu token is a decentralized cryptocurrency created in August 2020 by an anonymous person or group using the pseudonym "Ryoshi". It is inspired by the Shiba Inu (柴犬), a Japanese dog breed, which also serves as the mascot for Dogecoin, another cryptocurrency with meme origins. Some categorize Shiba Inu as a "meme coin" There have also been concerns about the concentration of the coin with a single "whale" wallet controlling billions of dollars' worth of the token, and frenzied buying by retail investors motivated by fear of missing out (FOMO).
shiba inu investors already got alot of profit during listing on #binance but now shib touched new high #burn rate with price expected to rebound.
Shiba Inu (SHIB) has set itself on a major bullish path today after its most consistently bullish metric, the burn rate soared by 499,363% overnight. With this rare jump in burn rate, the protocol has now sent as many as 264,176,152 SHIB tokens to dead wallets, removing them from circulation completely.
this missive news did Instant 2% up impact on price. however its not over the token is get in trending on social media because of this news. So we expect 100% or even 10000% pump in shib price in upcoming days.
Shiba Inu has maintained relatively fair resilience thus far this month, and this latest burn rate might help it hit one of its most positive months this year.
#SHIBFuture $SHIB #SHIBSurge #shibaburn
in this article i am gonna explain you that today investment in shib is how much profitable in few days.
first of all we need to understand that what is shib?
Shiba Inu token is a decentralized cryptocurrency created in August 2020 by an anonymous person or group using the pseudonym "Ryoshi". It is inspired by the Shiba Inu (柴犬), a Japanese dog breed, which also serves as the mascot for Dogecoin, another cryptocurrency with meme origins. Some categorize Shiba Inu as a "meme coin" There have also been concerns about the concentration of the coin with a single "whale" wallet controlling billions of dollars' worth of the token, and frenzied buying by retail investors motivated by fear of missing out (FOMO).
shiba inu investors already got alot of profit during listing on #binance but now shib touched new high #burn rate with price expected to rebound.
Shiba Inu (SHIB) has set itself on a major bullish path today after its most consistently bullish metric, the burn rate soared by 499,363% overnight. With this rare jump in burn rate, the protocol has now sent as many as 264,176,152 SHIB tokens to dead wallets, removing them from circulation completely.
this missive news did Instant 2% up impact on price. however its not over the token is get in trending on social media because of this news. So we expect 100% or even 10000% pump in shib price in upcoming days.
Shiba Inu has maintained relatively fair resilience thus far this month, and this latest burn rate might help it hit one of its most positive months this year.
#SHIBFuture $SHIB #SHIBSurge #shibaburn
#SHIBA INU TEAM BEGINS TESTING OF AUTOMATED #SHIB TOKEN BURN MECHANISM
The Shiba Inu ecosystem team member known as RagnarShib has provided a crucial update on the ongoing development of Shibarium’s automated SHIB token-burning mechanism. The team is making significant strides in refining and testing the burn portal, a feature eagerly anticipated by the SHIB community.
In a recent tweet, RagnarShib announced that the testing phase for the Shibarium burn mechanism has officially begun. The deployment of the burn mechanism took place last month on Puppynet, the testnet version of the Layer 2 (L2) scaling solution. This development marks a significant step forward in the project’s progress.
Clarification on deployment timeline
RagnarShib’s message was prompted by some members of the SHIB community, who had high expectations of the burn portal launching on the mainnet in January. This led to expressions of frustration on various social media platforms.
In response, #RagnarShib clarified that there was a misunderstanding regarding the deployment timeline. He referred to The Shib Magazine, a Shiba Inu bi-weekly journal, which explicitly stated that the burn mechanism would be deployed on Puppynet for testing purposes in January. The magazine stated, “Starting in January, the mechanism will evolve into an automated system on Puppynet for testing purposes.”
The initial deployment phase on Puppynet is crucial for refining the solution, ensuring efficiency, and enhancing its reliability before it eventually transitions to the mainnet.
The Shibarium team has been manually burning SHIB tokens using some of the Shibarium fees. They have initiated five Shibarium-powered burns, incinerating over 43 billion SHIB tokens valued at $390,440. However, this manual process has challenges, including inefficient performance and a lack of transparency.
The #automated #burn mechanism aims to tackle these issues based on predefined rules, streamlining the burning process and increasing transparency.
While no specific date is provided for the transition
The Shiba Inu ecosystem team member known as RagnarShib has provided a crucial update on the ongoing development of Shibarium’s automated SHIB token-burning mechanism. The team is making significant strides in refining and testing the burn portal, a feature eagerly anticipated by the SHIB community.
In a recent tweet, RagnarShib announced that the testing phase for the Shibarium burn mechanism has officially begun. The deployment of the burn mechanism took place last month on Puppynet, the testnet version of the Layer 2 (L2) scaling solution. This development marks a significant step forward in the project’s progress.
Clarification on deployment timeline
RagnarShib’s message was prompted by some members of the SHIB community, who had high expectations of the burn portal launching on the mainnet in January. This led to expressions of frustration on various social media platforms.
In response, #RagnarShib clarified that there was a misunderstanding regarding the deployment timeline. He referred to The Shib Magazine, a Shiba Inu bi-weekly journal, which explicitly stated that the burn mechanism would be deployed on Puppynet for testing purposes in January. The magazine stated, “Starting in January, the mechanism will evolve into an automated system on Puppynet for testing purposes.”
The initial deployment phase on Puppynet is crucial for refining the solution, ensuring efficiency, and enhancing its reliability before it eventually transitions to the mainnet.
The Shibarium team has been manually burning SHIB tokens using some of the Shibarium fees. They have initiated five Shibarium-powered burns, incinerating over 43 billion SHIB tokens valued at $390,440. However, this manual process has challenges, including inefficient performance and a lack of transparency.
The #automated #burn mechanism aims to tackle these issues based on predefined rules, streamlining the burning process and increasing transparency.
While no specific date is provided for the transition
Salmonation Project Burns All Supply of $SUI Tokens to Increase Trust and Decentralization
#burn #Binance #crypto2023 #salmonation #beonechain
The Salmonation project has made a significant move towards increasing public trust and decentralization by burning all supply of $SUI tokens owned by developers. The project was launched on the Binance Smart Chain (BSC) network with a maximum tokenomic supply of 100,000,000 SUI and an outstanding circulation of 50,000,000 SUI in the pancakeswap-finance pool. The remaining 50,000,000 SUI was held by the developers.
With the burning decision, the circulating supply of $SUI will be maintained at 50,000,000 SUI in the Binance Smart Chain network. This move aims to increase organic transactions, leading to decentralized transactions based on smart contracts.
The impact of this decision will also guarantee a custodial transaction from $SUI to $BOC COIN in the BeOne network. This will ensure that BOC COIN has the same value as SUI, thus increasing the confidence of users and developers to transact using BeOneChain.
Overall, this move by the Salmonation project is a step towards greater transparency, decentralization, and trust in the project. It will be interesting to see how the community responds to this development and how it impacts the project's growth in the future.
Visit: beonechain.com.
The Salmonation project has made a significant move towards increasing public trust and decentralization by burning all supply of $SUI tokens owned by developers. The project was launched on the Binance Smart Chain (BSC) network with a maximum tokenomic supply of 100,000,000 SUI and an outstanding circulation of 50,000,000 SUI in the pancakeswap-finance pool. The remaining 50,000,000 SUI was held by the developers.
With the burning decision, the circulating supply of $SUI will be maintained at 50,000,000 SUI in the Binance Smart Chain network. This move aims to increase organic transactions, leading to decentralized transactions based on smart contracts.
The impact of this decision will also guarantee a custodial transaction from $SUI to $BOC COIN in the BeOne network. This will ensure that BOC COIN has the same value as SUI, thus increasing the confidence of users and developers to transact using BeOneChain.
Overall, this move by the Salmonation project is a step towards greater transparency, decentralization, and trust in the project. It will be interesting to see how the community responds to this development and how it impacts the project's growth in the future.
Visit: beonechain.com.
