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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Shibburn, the burn tracker Twitter account linked to Shiba Inu (SHIB), was abruptly suspended on June 24. The suspension came after the account owners owing to a notification from Twitter’s Developer Portal warning them that they
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As for the Win Trump Prizes NFTs, at the time of writing, the number of unique owners had dropped from 799 to 788, indicating that only a few others are choosing to or are able to burn their NFTs (I burned mine without issue as part of reporting this piece). Source
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When crypto markets took a hit after the collapse of FTX and other crypto lenders last year, some crypto critics repeated the mantra, “Let crypto burn.” Now, it’s big banks that are faltering — including Credit Suisse and First Republic — after regional banks, including Signature Bank and Silicon Valley
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The supply of wrapped Bitcoin (wBTC) dropped to its lowest since May 2021 after the second-largest single-day burn on Feb. 27. A total of 11,500 WBTC worth about $260 million linked to now-bankrupt crypto lender Celsius was burned, turning its growth rate to negative. The current total supply of the wrapped
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A similar burn was earlier conducted by Floki DAO, a Shiba Inu-themed crypto project, earlier in February, as CryptoX reported. Floki burned over $100 million worth of its token and completely dissolved its BNB Chain to Ethereum bridge as part of a broader move towards positioning itself as a serious
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Huobi Global adviser Justin Sun explained the token offering in a tweet last week. "FUD token provides creditors with a new level of liquidity, allowing them to trade their FTX debt on the open market," Sun said, adding it "has been confirmed" through a contract provided by DebtDAO that the
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“In Floki’s case, an exploit on our main cross-chain bridge would have a catastrophic impact on the project since this bridge currently holds 55.7% of what FLOKI’s total circulating supply should be. This is a lot of tokens, and that’s more than enough to drain the project’s liquidity pools and
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SHIB token burn rates are seemingly rising on the Shiba Inu network. The current number of Shiba Inu burn trackers is quite surprising. However, data shows it is due to the degenerative performance of the SHIB burning machine. On-chain data shows that the SHIB burn rate observed a massive 1682.07% increase
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Burning tokens is a way of reducing supply, which subsequently adds value to each token as long as the level of demand remains the same. The Floki team hopes to position the project as serious decentralized finance (DeFi) contender. “Floki's latest DAO vote makes it clear that Floki is more
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The Shiba Inu (SHIB) token is one of the prominent meme tokens in the crypto market today, having a community of over 3.6 million followers. Liked by many and aiming to be more than just a meme token, the SHIB army committed to a burn mechanism in which they’d have
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