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Tag: token burn

Terra to burn 1B UST from the community pool as holders vote for it
Cryptocurrency

Terra to burn 1B UST from the community pool as holders vote for it

In the quest to support the revival of Terra (LUNA), the community voted to burn a large amount of UST from its community pool. Earlier in May, the Terra founder Do Kwon explained that a potential solution to the Terra debacle is to absorb the stablecoin supply. In response to this, users proposed the burning of the 1 billion TerraUSD (UST) that was stored in Terra’s community pool and the remaining cross-chain UST that’s deployed on the Ethereum blockchain as incentives. Read Also: Charles Hoskinson stresses Cardano’s focus on doing only regulated business As stated by the proposal, the burn will help “reduce the outstanding bad debt of the Terra economy.” Apart from this, it’s also expected to play a significant part in restoring the UST dollar peg by eliminating a big chunk of ex...
Half-Billion SHIB Destroyed, But Burn Rate Declines 27%: Report
Cryptocurrency

Half-Billion SHIB Destroyed, But Burn Rate Declines 27%: Report

As reported by burn tracking platform Shibburn, over the past 24 hours, a staggering sum of Shiba Inu has been locked up in unspendable wallets by various members of the global SHIB army. More than half a billion meme tokens have been shifted to dead-end wallets. Read Also: Elon Musk And DOGE Co-Founder Troll Crypto Scam Bots on Twitter In the meantime, whales' purchasing activity related to SHIB has surged as their comprised Shiba Inu stash has increased by almost 25%. 525.2 million Shiba Inu destroyed Shibburn tweeted that several soldiers in the Shib army have burned a total of 525,200,039 meme coins since yesterday morning. The largest single transactions among those carried 93,303,458 SHIB 22 hours ago and 82,140,154 four hours ago. The burn...
Shiba Inu Spikes 10% as Price Recovers from Key Support
Cryptocurrency

Shiba Inu Spikes 10% as Price Recovers from Key Support

As seen on CoinMarketCap data,  Shiba Inu has risen by nearly 10% in the last 24 hours and was trading at $0.00001245. Shiba Inu rose from lows of $0.0000113 on May 21, having reached significant support at this key level, to reach highs of $0.0001296 today, thus setting up to mark the third consecutive day in the green. Read Also: Litecoin Start-up MimbleWimble Extension Blocks (MWEB) The rebound comes as SHIB suffered major losses earlier in May, dipping as low as $0.000008. Despite price declines, Shiba Inu holders continue to increase. According to WhaleStats, the total number of SHIB holders is currently 1,167,954. Another positive growth is also awaited in the coming weeks. On May 21st, SHIB’s lead developer, Shytoshi Kusama, wrote, "Thanks for letting me push ...
22.2 Billion SHIB Burned Within Week, 667 Million Removed in 24 Hours
Cryptocurrency

22.2 Billion SHIB Burned Within Week, 667 Million Removed in 24 Hours

As stated by the SHIB burn tracker, more than 22 billion canine tokens have been taken out of circulation over the past week. Besides, more than half a billion Shiba were burnt within the last 24 hours. During this time, Shiba added almost 10% today. Read Also: SHIB Price Hints at Incoming Volatility, Holders Spike by Almost 20,000 22.8 billion SHIB locked in dead-end wallets within seven days Crypto burn tracker @Shibburn has reported that over the past week, multiple initiatives within the Shiba Inu fan community have eliminated a total of 22,200,398,699 meme tokens. Despite the mind-blowing figure, in USD this amount of SHIB is worth $279,281. It took nearly 500 transactions to move this amount of SHIB to dead-end wallets, where they were locked permanently. htt...