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RE: Steemit Crypto Academy Contest / S5W4 - Token Burn

in SteemitCryptoAcademy3 years ago

Hey my friend,

You are doing a nice job man, I like how you organiser and compose your content.

Last year, Luna underwent a Token burn that is believed to be the biggest token burn to date. As 88.7 million LUNA worth approximately $4.5 billion were burned following a vote by the community. A few days after the token burn, the LUNA token was able to hit a new record high in value moving from $50 to $54.77.

Yea the burn steem mechanism has really gone a long way in changing things in the crypto world, most especially when we talk about the movement of the price of these asset. Not just Luna even Ethereum and BNB has also ran large amount of burn and it's has really made the Blockchain technology go further than some of its mates.

It's so sad that after such sacrifice the Blockchain had to crash into a shadow of it former self, I just wish them good.

Thank you very much for sharing, please you can check my own entry here

wishing you success

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Thank you for your knowledgeable input on my work... Its gives me confidence. Thank you and God bless you.