Token Burns seems a bizarre practice to those not familiar with the cryptosphere – it is literally throwing money away. However, there are sound financial principles involved. By taking tokens out of circulation, scarcity increases, driving the price of the remaining coins upwards. Recently, Terra Luna Classic (LUNC) and Shiba Inu (SHIB) burned a massive number of coins, while the tokenomics of TMS Network (TMSN) makes provision for token burns to drive scarcity.
Terra Luna Classic (LUNC) – A Massive Burn To Stoke Support
The Cremation Coin project burned 51.7 million Terra Luna Classic (LUNC) tokens in early march. The burn event marks one of the largest of its kind to date. Terra Luna Classic (LUNC) has been trading in a downtrend since February 2023, and currently moving sideways.
Terra Luna Classic (LUNC) began 2023 with an uptrend but started to decline in February, forming lower highs and lower lows. Presently, the Terra Luna Classic (LUNC) token is trading below Exponential Moving Averages (EMAs), but Terra Luna Classic (LUNC) might still find support before any recovery.
Terra Luna Classic (LUNC) faces two critical resistance levels during its recovery: $0.000147 and $0.000158. These levels previously served as support during Terra Luna Classic (LUNC) ‘s uptrend, and overcoming them could bolster a bullish case for Terra Luna Classic (LUNC).
Shiba Inu (SHIB) – Billions Burnt as Price Drives Upwards
The burn rate for Shiba Inu (SHIB) tokens has recently experienced a significant increase, with nearly one billion Shiba Inu (SHIB) coins removed from circulation and sent to “dead” wallets. This figure represents almost half of the total Shiba Inu (SHIB) burned in the last seven days. Meanwhile, Shiba Inu (SHIB) has seen a weekly rise of over 7.2%. Data from the Shibburn tracking platform reveals that the rate at which Shiba Inu (SHIB) tokens are sent to dead wallets has surged by an astonishing 9,562% within a day.
Nearly all of the billion-odd Shiba Inu (SHIB) removed from circulation were burned in a single transfer. The Shiba Inu (SHIB) community burned two and half a billion Shiba Inu (SHIB) in the week leading up to it, while another notable burn occurred two days previously, with over 400 million Shiba Inu (SHIB) sent to an unspendable wallet in one transfer.
TMS Network (TMSN) – Solid Tokenomics Drives Investment
The new TMS Network (TMSN) solid tokenomics principles underpin decentralized exchange. As the native currency of the TMS Network (TMSN) exchange, the token is the driving force behind the powerful new trading platform, and investors are buying presale coins for an excellent reason.
By investing in TMS Network (TMSN) tokens, users possess a direct proportional share of the platform itself. Whenever the TMS Network (TMSN) platform generates revenue, the profit goes to TMS Network (TMSN) token holders, providing a passive income platform. This leads to a direct incentive to trade on the platform, providing more revenue for the platform and its users.
Through a token-burning mechanism, TMS Network (TMSN) will regularly destroy TMS Network (TMSN) tokens, creating a positive feedback loop as the increase in coin value generates more income for holders.
After selling out $500k in the first phase of the presale, TMS Network (TMSN) is now offering investors to participate in the second phase of its presale, with coins available at $0.038.
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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.