🔥🔥🔥$AVAX 🔥🔥🔥🔥
✅ What we know: The burning mechanism in the Avalanche network
The Avalanche network relies on a burning mechanism for transaction fees, whereby a portion of the tokens is permanently removed from circulation (i.e., they are sent to an inaccessible address).
This burning is considered part of the structural economy of the network, aimed at gradually reducing the circulating supply and enhancing the scarcity of the tokens.
According to some sources, during a specific time period, the number of burned tokens increased significantly, exceeding 4.8 million AVAX over the course of a week, which is estimated to be about 108 million dollars approximately based on the price quoted during that period.
It is noted that the burning rate increased from less than 500 tokens daily to about 1,500 tokens daily according to some recent sources.
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⚠️ Verification and Risks
Even if this number has been mentioned in media sources and analyses, final verification requires referring to on-chain data or approved analytical tools that show the actual number of burned tokens.
The dollar value depends on the price of AVAX at the time of burning, and it may vary with price changes.
Burning is not "random" in the sense that it is not the destruction of tokens without purpose; rather, it is part of the economic mechanism of the network to remove fees and encourage scarcity.
This burning ignites the upcoming wave of $AVAX . Avalanche quietly reduces the supply while the ecosystem expands. 🌋💎
