RE: Steemit Crypto Academy Contest / S5W4 - Token Burn
Hey friend,
Token burn is an event that has been happening in the crypto space for some years now where cryptocurrencies are burnt to reduce their circulating supply, one of the results of this event is improved value for the token.
Just like we were taught in school, especially in economics. Whenever an asset is burnt or removed whether fiat currency or crypto currencies, the demand becomes really high and at the end of the day it would improve the value and price of the coin.
Furthermore, it attracts more investors to the project which increases the adoption
Yeah definitely every trader or investor would love to invest in asset that would generate large income in the future, so therefore whenever an investor sees the sacrifice and hardwork of the team or witness, they would love to invest.
Thank you very much for sharing, please you can check my own entry here
That's true friend. People always like to invest in markets that are doing fine because that is where they are confident that their money is safe. Token burn will help the market value of a coin and this will attract more investors. Thanks for reading my post.