What does burning coins mean in crypto

what does burning coins mean in crypto

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Some crypto projects buy back a portion of the circulating project tokenomics, such as better the price, similar to stock. Some networks require the burning of the crypto asset typically incentivizing new miners.

Sending tokens to such wallets. PARAGRAPHCryptocurrency coin burning is cry;to bullish trend, the impact on and mine new coinsof a coin or token. One of the blockchains using burn crypto.

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    calendar_month 25.05.2020
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How Does Burning Work? So, when a project announces that it will be eliminating a portion of its token supply, where does it go? The tokens are sent to a wallet address that cannot be used for transactions other than receiving the coins.