Quote from: cryptotact11 on Today at 01:12:09 AM

It does not, no. Only deflationary mechanisms that involve taking away coins from the market and burning them do. There are many cases where a team prints tokens for itself, and later burns them. Burning tokens that you created for nothing and were never in circulation does not benefit the market price, it is more of a marketing stunt to ignite attention. The best kind of burns are those that happen because of active usage or through buy back and burn from sharing platform or service fees.

I think token burn alone just create a short term surge in price, what sustains the momentum is utility(innovative value creation). Take BNB for example, started burns then CZ expanded its utilities. Staking, swap, launchpools etc and price soared. I think Bitget is doing similar stuff with BGB. token burns, then more utilities Like Payfi, multi chain has payments etc, if they could have their own blockchain, that'll be cool.. I'm not saying BGB could pull off BNB price, I'm saying there's similar blueprint imo.