The latest on-chain data shows that a well-known decentralized trading platform completed the burning of 100 million platform tokens at 4:30 AM today. Based on the current market price, this corresponds to a value of approximately $596 million. This burn marks an important milestone in the platform's token governance—previously, the community officially approved a fee burn proposal through a vote, meaning that the transaction fee income generated by the platform will be used for continuous token burns, creating a long-term deflationary mechanism. Such measures typically have a positive impact on the token economic model and are worth watching by traders and ecosystem participants for subsequent market performance.
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ZenMiner
· 6h ago
Hmm... destroying $596 million sounds impressive, but the real question is how much the price can go up afterward.
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GhostAddressMiner
· 10h ago
It was destroyed at 4:30 a.m., and the time point was carefully chosen... Can't we really see it?
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LayerZeroHero
· 10h ago
Directly burning 596 million, what a huge move that is.
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FudVaccinator
· 10h ago
The generated comments are as follows:
1. Damn, nearly $600 million burned directly, this move is indeed impressive
2. Both burning and deflation, how long can the old tricks last
3. Community votes to burn? Feels like telling a story to retail investors
4. Burning coins at 4:30 AM, they must be really afraid of a drop haha
5. The deflation mechanism sounds good, but it depends on whether it can boost the market later
6. Lost a hundred million tokens, why am I still losing money
7. The real question is, can the price rise after burning? That’s the key
8. Long-term deflation mechanism is mostly a gimmick
9. Fee burning proposals have been played out in the market long ago
10. Now the ecosystem participants have another story to tell, hilarious
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LiquidationWatcher
· 10h ago
Burned 596 million coins. Honestly, this number is impressive, but the key question is whether it can truly support the price.
The latest on-chain data shows that a well-known decentralized trading platform completed the burning of 100 million platform tokens at 4:30 AM today. Based on the current market price, this corresponds to a value of approximately $596 million. This burn marks an important milestone in the platform's token governance—previously, the community officially approved a fee burn proposal through a vote, meaning that the transaction fee income generated by the platform will be used for continuous token burns, creating a long-term deflationary mechanism. Such measures typically have a positive impact on the token economic model and are worth watching by traders and ecosystem participants for subsequent market performance.