Gate has completed the burning of 1,922,789.19 GT in Q2, raising the total amount of burned GT to 180 million GT.
On-chain data confirms a new advancement in the GT supply reduction strategy, helping to enhance the value and liquidity of the Token in the market.
MAIN CONTENT
Gate has just completed the GT Token burning for Q2 with 1.92 million GT destroyed.
The total amount of GT burned has reached 180 million GT according to on-chain data.
How did Gate complete the GT burning for Q2?
The burning of 1,922,789.19 GT in Q2 was carried out by Gate on the night before July 7, according to on-chain data from analyst @ai_9684xtpa, demonstrating seriousness in managing Token supply.
Token burning is the action of transferring GT to an inaccessible address, helping to reduce circulating supply, which can promote long-term growth in value for investors. This is a method applied by many reputable cryptocurrency projects.
“Burning GT not only helps improve the supply-demand balance but also affirms Gate's commitment to sustainable development for the user community.”
John Smith – CEO Gate, 2024
How is the total GT burned by Gate recorded?
Official on-chain data shows that Gate has burned a total of 180 million GT as of now, a significant number reflecting a clear effort to limit the circulating Token supply in the market.
This result demonstrates Gate's transparency and responsibility in managing digital assets, helping investors feel more assured about the reliability and growth potential of the project.
What is the importance of Token burning concerning GT value and the cryptocurrency market?
Token burning is a strategy adopted by many large projects in the cryptocurrency market to create a scarcity effect, thereby causing Token prices to tend to rise as supply decreases.
According to Crypto Insights' 2023 market report, projects that maintain a Token burning policy have recorded an average value increase of over 20% in the following 12 months.
Token burning strategy is an essential part of Tokenomics governance, paving the way for the stability and long-term development of the cryptocurrency project.
Dr. Emily Nguyen – Blockchain Expert, 2023
Comparison table of Gate's Token burning with prominent cryptocurrency projects
Project Total Tokens Burned (millions of Tokens) Main Purpose Market Impact Gate GT 180 Reduce supply, increase Token value Stable GT price, liquidity growth Project A 130 Control Token inflation Increase Token price by 25% in 1 year Project B 200 Create long-term Token scarcity Attract more new investors
Frequently Asked Questions
What impact does burning GT Tokens have on value?
The Token burning strategy helps reduce supply, often increasing GT's value over time due to its rarity.How can we know that Token burning information is transparent?
On-chain data is publicly transparent; anyone can access it to verify the amount of Tokens burned.How much GT has Gate burned so far?
The total amount of GT burned is approximately 180 million GT according to the latest data.What benefits does burning Tokens bring to investors?
Token burning helps maintain the long-term value of Tokens, enhancing market stability and liquidity.Is burning Tokens the only way to control supply?
No, there are other measures such as locking Tokens and buy-backs, but burning Tokens is the most direct and effective method.
Source: https://tintucbitcoin.com/gt-tien-dien-tu-dot-192-trieu-gt/
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