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.
Practically not all burned coins will go up in price. It is true that the normal number of burned coins will cause the price to skyrocket but there are coins that are worthless even after burning many times still have no value. and we look closely and the coins are mainly coins. have the top 100 on coinmartketcap if the coins have good features and strong market development direction and they take measures to burn coins to help reduce inflation and improve the value of their coins, of course the price will increase, but conversely, coins with a total supply of 1 million billion billion, actually burning 1 salary 20% can't solve anything.