XRP DESTROYED FOREVER
XRP has an absurd amount
of tokens which is simply 100 billion
tokens.
1 - It is an extremely
high amount, here comes the token burn which means that over time thousands of XRPs will cease to exist and thus the maximum amount of XRP
will decrease, XRP has a protocol for reducing its supply through transaction fees;
These fees are not redistributed or reallocated, they are permanently burned.
2 - To date, 13,959,696 million XRP have been destroyed;
Here comes the law of supply and demand, less supply and more demand pushes the price up.
3 - The minimum fee per transaction, that is, each
operation on the XRP Ledger charges a minimum fee on the transfer amount of
0.001 XRP and this fee is removed
permanently from circulation, that is
(it is destroyed), the purpose of this fee, in addition to
generating scarcity, it serves to prevent
SPAN of the network while maintaining security and
efficiency;
4 - Currently, it is estimated that 4 to 5 thousand XRP are burned every day; Another important factor to note is that XRP cannot be mined like BTC, there is no way to create more XRP, that is, the more tokens are burned, the more demand will increase and with the 11 thousand global banks making transactions, between 5 to 8 trillion every day, (SWIFT) the token burn can also increase excessively, causing the price to spike.
This is not investment advice.
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