Over $1.27 billion worth of crypto tokens have been burned across five major projects.
According to CryptoRank's October 21 snapshot, these are the largest recent token burns:
🥇 $BNB: $1.20B | 1.64M tokens burned
🥈 $JST: $23.5M | 170.72M tokens
🥉 $GT: $22.4M | 1.99M tokens
🔹 $HTX: $15.5M | 9.39T tokens
🔹 $POL: $10.1M | 100M tokens
BNB dominates the list, accounting for approximately 94% of the combined burn value.
BNB Chain has already reduced its supply from an initial 200 million BNB to approximately 131.5 million, moving closer to its long-term target of 100 million.
Meanwhile, Polygon reportedly has another 22 million POL scheduled for its next burn.
Token burns permanently remove tokens from circulation, but their impact on price also depends on demand, issuance and market conditions.
Which token do you think benefits most from its long-term burn mechanism? 👀
#TokenBurn #BNB $BNB
According to CryptoRank's October 21 snapshot, these are the largest recent token burns:
🥇 $BNB: $1.20B | 1.64M tokens burned
🥈 $JST: $23.5M | 170.72M tokens
🥉 $GT: $22.4M | 1.99M tokens
🔹 $HTX: $15.5M | 9.39T tokens
🔹 $POL: $10.1M | 100M tokens
BNB dominates the list, accounting for approximately 94% of the combined burn value.
BNB Chain has already reduced its supply from an initial 200 million BNB to approximately 131.5 million, moving closer to its long-term target of 100 million.
Meanwhile, Polygon reportedly has another 22 million POL scheduled for its next burn.
Token burns permanently remove tokens from circulation, but their impact on price also depends on demand, issuance and market conditions.
Which token do you think benefits most from its long-term burn mechanism? 👀
#TokenBurn #BNB $BNB