What is token burning?

— Bottom line – token burning is an important concept. Let’s get to know it. Token burning means destroying a coin or token permanently – but why do this? It’s a great question, and here we have your answer. Among many revolutionary features, perhaps the most appealing aspect of crypto currency is the control it restores to users.

Do altcoins burn tokens?

While the major cryptos (Bitcoin and Ethereum) don’t have token burning programs, many strong Altcoins use it. For instance, Binance has a target of burning 100 million BNB tokens, while there are similar practises for both USDT Tokens (issued by Tether) and XRP coins (issued by Ripple). How does token burning work?

Is Binance burning BNB tokens?

The biggest news regarding the token burning so far is associated with Binance’s claim to burn BNB tokens worth $ 600 Million. The latest quarterly burn by Binance Exchange is considered the highest one that has ever been recorded in dollar terms. Out of 200 million BNB tokens almost 15 % have been burned during the process.

Is a token burn an airdrop?

The token burn could be considered an airdrop as it increases the value of coins held by the crypto holders. For example, Company A conducted a burn, as a result, the value of the coin appreciated by 10% due to falling in supply.