There are many of us who do not know what is burning coins or tokens, so I will highlight the details for them today.
Coin or token burning is the removal or burning of a coin from its total supply. We can call coin burning the amount of coins that will be removed from the total supply of a coin.The main purpose of burning all coins is to reduce the amount of coins.
Suppose you burn ltc coins, now suppose LTC has a total supply of 100000000, now if you want to burn 20% coins of this project, they can burn coins slowly.
Coin burn results:
The result of burning coins is that they will reduce the amount of coins from the supply. As a result, the supply of that coin will decrease and the price of the coin will increase. We all know that 50% of the bnb coins were burned. And as a result, the price of bnb coins is much higher now.
Coin or token burning is often used as a way to increase the value of a coin or token, and is often considered the easiest way to increase its value, but in reality not everything goes as expected, a coin or token that is burned must have good potential in the crypto market, community big fans and continuous development, if the coin or token that is burned is just a shitcoin that is not that much in demand, it will be useless even if it is pumping but is temporary and will eventually come back and even sink.