Sunday, May 22, 2022
Home Crypto News Market 25,327 BONE Burnt, A First-Ever Burn Transaction Destroying Shiba Inu Ecosystem Coin...

25,327 BONE Burnt, A First-Ever Burn Transaction Destroying Shiba Inu Ecosystem Coin ‘Bone’

- Advertisement -
Follow-Us-On-Google-News

 

Community-Led Burn Initiative For Bone ShibaSwap, (BONE) Kickstarts; 25,327 BONE, Worth $15,118 Transferred To Dead Wallet Through First-Ever Burn Transaction.



Following the launch of the “SHIB Burn Portal,” the community rushed to get started the burn campaigns for another official token of the Shiba Inu ecosystem, Bone Shibaswap (BONE).

The first-ever burn for Bone Shibaswap, one of the tokens of the Shiba Inu ecosystem, has been officially claimed by SHIB-inspired tokens named “1CENT”.

The token has sent 25,327 BONE, worth $15,118, to a dead wallet through one transaction.

The token that came into existence about two months ago is inspired by Shiba Inu Community. The token name “1CENT” is derived from one of the famous and trending hashtags, #1CentDream, most commonly used by Shiba Inu Community members hoping and wishing Shib to reach the 1 Cent mark.

1CENT Mission Statement:

As per CoinMarketCap (CMC) data, the current circulating supply of SHIB is 549.06 trillion tokens. 1CENT token is on a mission to reduce this massive circulating supply while increasing demand for the dog-themed cryptocurrency and making it able to hit the $0.01 (1 cent) mark.

Total Number of SHIB Burned By the Project:

1CENT organizes “Burn Event for SHIB” every week. Through this event, the token utilizes 7% of the earned tax per transaction to burn SHIB. Since its birth, the token has removed a whopping 1,759,123,416 (1.75B) SHIB through 7 separate transactions from circulation forever.

Recent Weekly Burn Event:

Following its Weekly Burn Event Schedule, for the 7th week straight, 1Cent, a token supporting SHIB burn, organized a Weekly Burn Event on 25th April 2022. Through this event, the project claimed that they had sent 288,337,503 (288.33M) SHIB to the dead wallet through one significant transaction.

1CENT Ecosystem Expansion:

The project has recently expanded its ecosystem and brought up a new token named “XCent.” This token aims to reduce the current circulating supply of Bone ShibaSwap (BONE).

Bone ShibaSwap is the governance token of ShibaSwap and will be the native gas token of the upcoming blockchain named “Shibarium.”

As per data provided by CoinMarketCap, the current circulating supply for BONE stands at 6,975,299 (6.97M).  At the time of writing, BONE is trading at the price of $0.59, up 3.45% over the last day, with a 24-hour trading volume of $1,828,901 ($1.82M).

- Advertisement -

Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Zabi
Zabi is crypto enthusiastic with more than 10 years of experience in managing Google News-approved Finance websites. Zabi has a strong background in finance with a thorough understanding of cryptos and a solid grip on the crypto and financial market industry. Along with his passion for crypto writing, Zabi manages his personal stock and finance-related Google News-approved websites.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Can Pac-Man Frog (PAC) Outperform ApeCoin (APE) And Theta Network (THETA)?

Cryptocurrencies are all anyone has been able to talk about for the past couple of years. They are an innovative way of thinking about...

Secure DeFi Protocols: Calyx Token (CLX), Chainlink (LINK), and Aave (AAVE)

An ongoing prevalence of hacks, attacks, and exploits within the cryptocurrency space highlights the importance of verifying the security and integrity of a protocol...

Beware of Malicious Proposals, Terra (LUNA) Team Says No Dapps Launched on Terra 2.0 

Terra Team Warns Community to Beware of Malicious Proposals, Says No Decentralized Application Has Launched on Terra 2.0. ...

CZ On Terra (LUNA): “Most Stupid Design Flaw Is Thinking Minting More Of An Asset Will Increase Total Value”

  Binance CEO: Terra Had The Chance To Save Luna And UST When The De-peg Was At 5% But They Failed To Act.

Ethereum Co-Founder Vitalik Buterin Says He Is No Longer A Billionaire

The Ethereum exec was also affected by last week’s cryptocurrency dip that wreaked havoc on investors.  window.coinzilla_display...

Market Pundit: UST And Terra (Luna) Collapse Is NOT An Indication That Crypto Market Is Ending

  Crypto Market Is Not Ending Because Of Terra. window.coinzilla_display = window.coinzilla_display || ; var...

Another Top American Exchange Halting Terra USD (UST) Trading After Coinbase

Gemini follows Coinbase to halt UST trading. window.coinzilla_display = window.coinzilla_display || ; var c_display_preferences...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.