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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) $ 94,846.00 2.37%
Ethereum (ETH) $ 3,258.07 1.98%
Tether (USDT) $ 0.998184 0.14%
XRP (XRP) $ 2.18 2.73%
BNB (BNB) $ 645.55 2.18%
Solana (SOL) $ 178.94 1.28%
Dogecoin (DOGE) $ 0.308161 4.19%
USDC (USDC) $ 1.00 0.05%
Lido Staked Ether (STETH) $ 3,256.94 1.72%
Cardano (ADA) $ 0.876041 3.21%
TRON (TRX) $ 0.243034 0.39%
Avalanche (AVAX) $ 36.28 3.35%
Chainlink (LINK) $ 21.98 0.78%
Toncoin (TON) $ 5.35 1.07%
Wrapped stETH (WSTETH) $ 3,878.36 1.68%
Wrapped Bitcoin (WBTC) $ 94,580.00 2.35%
Sui (SUI) $ 4.28 1.79%
Shiba Inu (SHIB) $ 0.000021 1.9%
Stellar (XLM) $ 0.353509 0.92%
Polkadot (DOT) $ 6.81 2.15%
Hedera (HBAR) $ 0.263813 3.59%
Hyperliquid (HYPE) $ 27.95 13.61%
WETH (WETH) $ 3,258.77 1.79%
Bitcoin Cash (BCH) $ 442.34 2.56%
LEO Token (LEO) $ 9.31 0.37%
Uniswap (UNI) $ 13.80 2.93%
Litecoin (LTC) $ 98.97 2.07%
Pepe (PEPE) $ 0.000018 0.98%
Wrapped eETH (WEETH) $ 3,440.77 1.91%
NEAR Protocol (NEAR) $ 4.98 0.74%
Ethena USDe (USDE) $ 0.998761 0.15%
Bitget Token (BGB) $ 4.12 1.09%
USDS (USDS) $ 0.995590 0.35%
Aptos (APT) $ 9.19 2.94%
Aave (AAVE) $ 315.47 5.45%
Internet Computer (ICP) $ 9.87 2.2%
Cronos (CRO) $ 0.152908 3.1%
POL (ex-MATIC) (POL) $ 0.469807 0.65%
Mantle (MNT) $ 1.16 0.39%
Ethereum Classic (ETC) $ 25.83 0.71%
VeChain (VET) $ 0.045302 0.55%
Render (RENDER) $ 6.98 1.37%
WhiteBIT Coin (WBT) $ 24.41 0.4%
MANTRA (OM) $ 3.67 0.66%
Monero (XMR) $ 186.46 1.63%
Dai (DAI) $ 0.999045 0.16%
Bittensor (TAO) $ 449.32 1.42%
Artificial Superintelligence Alliance (FET) $ 1.25 1.17%
Arbitrum (ARB) $ 0.740212 0.5%
Ethena (ENA) $ 1.04 3.16%
Kaspa (KAS) $ 0.117153 2.06%
Filecoin (FIL) $ 4.80 2.52%
Algorand (ALGO) $ 0.340804 3.39%
Fantom (FTM) $ 0.958482 1.46%
OKB (OKB) $ 44.63 1.09%
Cosmos Hub (ATOM) $ 6.38 2.12%
Stacks (STX) $ 1.62 2.51%
Optimism (OP) $ 1.74 0.27%
Bonk (BONK) $ 0.000031 2.84%
Virtuals Protocol (VIRTUAL) $ 2.29 9.41%
Ondo (ONDO) $ 1.59 4.61%
Celestia (TIA) $ 4.87 1.23%
Immutable (IMX) $ 1.31 1.39%
Theta Network (THETA) $ 2.11 0.92%
Coinbase Wrapped BTC (CBBTC) $ 94,857.00 2.31%
Injective (INJ) $ 20.30 0.48%
Binance-Peg WETH (WETH) $ 3,266.35 0.91%
The Graph (GRT) $ 0.203533 0.79%
dogwifhat (WIF) $ 1.91 0.49%
Movement (MOVE) $ 0.812034 14.99%
Worldcoin (WLD) $ 2.19 0.31%
Sei (SEI) $ 0.416486 1%
First Digital USD (FDUSD) $ 0.993014 0.52%
Rocket Pool ETH (RETH) $ 3,672.90 1.13%
THORChain (RUNE) $ 4.92 0.81%
Kelp DAO Restaked ETH (RSETH) $ 3,368.26 1.54%
Pudgy Penguins (PENGU) $ 0.025784 10.76%
Gate (GT) $ 12.80 1.67%
FLOKI (FLOKI) $ 0.000166 0.74%
Tokenize Xchange (TKX) $ 19.75 1.41%
JasmyCoin (JASMY) $ 0.032501 0.24%
Lido DAO (LDO) $ 1.72 3.15%
Mantle Staked Ether (METH) $ 3,428.72 2%
Lombard Staked BTC (LBTC) $ 94,934.00 2.56%
GALA (GALA) $ 0.034521 1.65%
Beam (BEAM) $ 0.027363 3.77%
Flare (FLR) $ 0.026259 3.81%
Fasttoken (FTN) $ 3.32 0.4%
Usual USD (USD0) $ 0.998154 0.08%
Maker (MKR) $ 1,576.59 2.72%
The Sandbox (SAND) $ 0.557247 0.8%
KuCoin (KCS) $ 11.08 0.24%
NEXO (NEXO) $ 1.32 1.13%
Pyth Network (PYTH) $ 0.355600 1.87%
Kaia (KAIA) $ 0.217861 0.59%
Tezos (XTZ) $ 1.24 4.94%
Solv Protocol SolvBTC (SOLVBTC) $ 94,809.00 1.76%
Brett (BRETT) $ 0.125766 0.41%
Raydium (RAY) $ 4.28 2.16%
Renzo Restaked ETH (EZETH) $ 3,354.01 1.67%