A total of 150,000,000 $ WIN has been burned and this is a big step for the winklink project. On 021-10-11 at 12: 32: 57 total of 150,000,000 $ WIN has been burned and you can see the details of this transaction here. The token is currently ranked 149th in the cryptocurrency market and is traded at a price of about $ 0.00053. Many exchanges, including Binance, Mandala Exchange, HitBTC, etc., support WINkLink coins.
WINkLink is The First Comprehensive Oracle of TRON’s Ecosystem and WINkLink fully integrates the real world with the blockchain space. It also implements its own project using decentralized mechanisms.
Token burning is one of the factors that can directly affect the value of a token in the market and is known as a deflationary mechanism. By permanently removing some tokens from circulation, it increases the value of other tokens. This factor encourages people to buy and maintain this token. It looks like this is what happened to the winklink token.
📢Buyback and Burn Update
🔥A total of 150,000,000 $WIN has been burned today!🔥
— WINkLink (@WinkLink_Oracle) October 11, 2021
By burning $ 150,000,000 in WIN, we can see the value of WIN tokens increase.
In the cryptocurrency market, projects with periodic token burns are welcomed, mainly because this method shows a strong management team. It aids in increasing the value of tokens, reducing the volume of coins in exchange, and so on.
Finally, Burning tokens act like restricting the supply. As a result, if demand for these tokens stays the same, or increases, we will definitely see a price increase. But if this action reduces the demand of people, we can say that burning tokens have had no effect.
We have taken a look at the $WIN price chart since the event and it seems that it has had a mild effect on the price so far, although we are still keeping an eye on the platform.