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.
Almost burning coin can increase price and make more than 10% until 30% price up, but depend which one coin have burning because if shit coin although burning more than 40% keep not give impact to make price pump, depend with potential coin only can raise to higher price after burning, maybe you still remember with TWT coin when burning with higher supply can raise up almost 40% from few percent until touch $1 when TWT success burning coin.