Several cryptocurrencies are known for burning large quantities of their coins to reduce supply and increase potential value. Among the most prominent are:
Binance Coin ($BNB ): This is one of the most well-known cryptocurrencies that uses a periodic and regular burn mechanism. The Binance platform burns a portion of its BNB tokens every three months based on trading volume, resulting in the destruction of tens of millions of coins.
Shipa Inu ($SHIB ): This meme coin relies on a burn mechanism to increase scarcity, and its burn rate has sometimes seen enormous spikes, reflecting ongoing efforts to reduce its massive supply.
Ethereum ($ETH ): Following the "London" upgrade, Ethereum introduced a mechanism to burn basic transaction fees, making it a deflationary coin at times and constantly reducing its circulating supply.
Other cryptocurrencies: Many new projects use burns as part of their economic model to maintain scarcity and attract investors in the long term. The common goal: All these mechanisms aim to reduce the overall supply of currency over time, which may contribute to an increase in its price if demand remains high.
