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Categories: Blockchain Technology, Free Market Insights, Innovation

Why Are The Coins Burning?

by SMHAugust 31, 2021February 4, 2024

Various blockchains require their currencies go through this burning process. Why burn coins though? What good does that do? Well, there are a couple uses.

Bitcoin (BTC) $ 97,933.00 4.54%
Ethereum (ETH) $ 3,144.32 1.14%
Tether (USDT) $ 0.999867 0.2%
Solana (SOL) $ 241.13 1.32%
BNB (BNB) $ 608.98 0.9%
XRP (XRP) $ 1.11 1.57%
Dogecoin (DOGE) $ 0.382460 2.04%
USDC (USDC) $ 0.999621 0.14%
Lido Staked Ether (STETH) $ 3,147.03 1.35%
Cardano (ADA) $ 0.787101 5.07%
TRON (TRX) $ 0.198692 0.24%
Wrapped Bitcoin (WBTC) $ 97,735.00 4.78%
Shiba Inu (SHIB) $ 0.000024 1.73%
Avalanche (AVAX) $ 33.96 2.74%
Toncoin (TON) $ 5.42 0.07%
Wrapped stETH (WSTETH) $ 3,720.17 0.94%
Bitcoin Cash (BCH) $ 522.44 18.04%
Sui (SUI) $ 3.45 6.13%
WETH (WETH) $ 3,145.48 1.23%
Chainlink (LINK) $ 14.57 1.11%
Polkadot (DOT) $ 5.72 5.08%
LEO Token (LEO) $ 8.75 3.71%
Pepe (PEPE) $ 0.000019 3.82%
Stellar (XLM) $ 0.237856 4.98%
Litecoin (LTC) $ 89.81 3.96%
NEAR Protocol (NEAR) $ 5.45 5.15%
Aptos (APT) $ 11.60 9.01%
Wrapped eETH (WEETH) $ 3,310.83 1.23%
Uniswap (UNI) $ 8.80 2.39%
USDS (USDS) $ 0.998978 0.49%
Cronos (CRO) $ 0.177761 2.91%
Hedera (HBAR) $ 0.121745 1.73%
Internet Computer (ICP) $ 8.97 2.85%
Ethereum Classic (ETC) $ 26.65 2.73%
Kaspa (KAS) $ 0.151827 4.73%
Bonk (BONK) $ 0.000051 5.63%
Render (RENDER) $ 7.21 9.49%
Ethena USDe (USDE) $ 1.00 0.14%
WhiteBIT Coin (WBT) $ 24.26 0.96%
POL (ex-MATIC) (POL) $ 0.434899 4.27%
Bittensor (TAO) $ 465.79 2.28%
Dai (DAI) $ 0.999558 0.19%
Artificial Superintelligence Alliance (FET) $ 1.21 5.4%
MANTRA (OM) $ 3.51 10.9%
dogwifhat (WIF) $ 3.11 5.51%
Monero (XMR) $ 162.33 1.67%
Stacks (STX) $ 1.93 3.67%
Arbitrum (ARB) $ 0.696276 0.9%
Filecoin (FIL) $ 4.55 4.06%
Mantle (MNT) $ 0.786784 7.62%
OKB (OKB) $ 44.03 0.39%
VeChain (VET) $ 0.031740 2.16%
FLOKI (FLOKI) $ 0.000252 5.22%
Cosmos Hub (ATOM) $ 6.14 5.36%
Aave (AAVE) $ 158.55 2.97%
First Digital USD (FDUSD) $ 0.998170 0.15%
Injective (INJ) $ 23.30 3.37%
Immutable (IMX) $ 1.28 3.18%
Optimism (OP) $ 1.69 3.84%
Celestia (TIA) $ 4.99 2.23%
The Graph (GRT) $ 0.213100 6.63%
Sei (SEI) $ 0.463494 3.72%
Bitget Token (BGB) $ 1.39 2.13%
Binance-Peg WETH (WETH) $ 3,143.72 1.37%
Fantom (FTM) $ 0.667407 3.38%
THORChain (RUNE) $ 5.19 0.86%
Algorand (ALGO) $ 0.207290 8.76%
Raydium (RAY) $ 5.63 1.97%
Rocket Pool ETH (RETH) $ 3,514.05 1.03%
Theta Network (THETA) $ 1.60 4.22%
Coinbase Wrapped BTC (CBBTC) $ 97,912.00 4.64%
Brett (BRETT) $ 0.156976 8.76%
Solv Protocol SolvBTC (SOLVBTC) $ 97,676.00 4.72%
Mantle Staked Ether (METH) $ 3,301.49 1.3%
Popcat (POPCAT) $ 1.52 8.65%
Ethena (ENA) $ 0.515806 4.05%
Bitcoin SV (BSV) $ 73.56 7.42%
Pyth Network (PYTH) $ 0.395923 5.19%
Jupiter (JUP) $ 1.06 5.08%
Worldcoin (WLD) $ 2.10 6.54%
Renzo Restaked ETH (EZETH) $ 3,222.72 1.31%
Ondo (ONDO) $ 0.975072 3.7%
Maker (MKR) $ 1,542.13 1.94%
Peanut the Squirrel (PNUT) $ 1.33 16%
KuCoin (KCS) $ 10.85 0.3%
Marinade Staked SOL (MSOL) $ 297.25 1.06%
Gate (GT) $ 9.68 0.59%
BitTorrent (BTT) $ 0.000001 7.2%
Arweave (AR) $ 17.20 3.95%
GALA (GALA) $ 0.027716 5.42%
Lombard Staked BTC (LBTC) $ 97,930.00 5.42%
Beam (BEAM) $ 0.021043 7.17%
Goatseus Maximus (GOAT) $ 1.08 1.13%
Flow (FLOW) $ 0.684254 0.56%
Fasttoken (FTN) $ 3.14 1.07%
Flare (FLR) $ 0.019810 0.06%
Tezos (XTZ) $ 1.03 4.8%
Polygon (MATIC) $ 0.434144 4.04%
Lido DAO (LDO) $ 1.12 2.43%
Solv Protocol SolvBTC.BBN (SOLVBTC.BB) $ 97,360.00 4.67%