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RE: Steemit Crypto Academy Contest / S5W4 - Token Burn
Burning token in the crypto space is one of the ways used to reduce the supply of the asset so that more value can be added to it. As you said, it is used to create artificial demand through attracting investors that would love to invest in a token that is performing well in the market.
The Steem token doesn't have maximum supply but burning through burnsteem25 can help to reduce the excess that enters the market until when the inflation rate hits 0.95% where lesser Steem would be produced per block. The impact to boost the price of Steem will be more effective when we have more users that join hands to make it a success. You explained everything well my friend.
Nice remarks and points you have presented here dear friend. For sure, token burning is a way to removing excess supply from the market. When tokens are burnt, it increases the value of our holdings. The more tokens that are available in circulation, the lower their value will be.
Thanks for your support and time here dearie, I appreciate ❤️:-)