The Bonk Decentralized Autonomous Group (DAO) has carried out the much-anticipated token burn, burning over a trillion BONK tokens. This supplies a bullish outlook for the highest Solana meme coin, though its worth has but to react to this improvement.
Bonk DAO Burns $52 Million BONK
Onchain data reveals that the Bonk DAO has burned 1.69 trillion BONK tokens by means of the multi-sig pockets in the present day. The official X account additionally confirmed this token burn.
This token burn was carried in keeping with the much-anticipated “BURNmas” event. Initially, 1 trillion tokens had been meant to be burnt. Nonetheless, the workforce revealed that an amended vote was handed, resulting in the 1.69 trillion token burn from the multi-sig pockets.
The full provide of the Solana meme coin is now 91 trillion tokens, down from the unique 100 trillion tokens. Token burns sometimes present a bullish outlook for the coin. This might result in a provide shock, which might make BONK extra worthwhile.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto information author and editor who has coated matters that lower throughout DeFi, NFTs, good contracts, and blockchain interoperability, amongst others. Boluwatife has a knack for simplifying probably the most technical ideas and making it straightforward for crypto newbies to know. Away from writing, He’s an avid basketball lover and a part-time degen.
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