Altcoin News by Thebittimes.Com

Lucky Block, a major NFT competition and gaming platform, is in the news again following yet another token burn program. With the reduced circulating supply and a new community initiative, the platform’s token is set for another pump.   1% of LBLOCK Burned Earlier today, Lucky Block’s developers announced that they had completed another round of token burns. Per the announcement, 1% of the total LBLOCK tokens in circulation have been burned.   At the time of the transaction, 1 billion LBLOCK tokens worth $206,000 were burned. The entire transaction had a fee of just $0.13.  This token burn is part of a mechanism to promote a healthy tokenomic model for LBLOCK. Several prominent digital assets, including Shiba Inu (SHIB) and Terra Luna Classic (LUNC), have initiated token burns to foster deflationary models. As the laws of economics dictate, a digital asset becomes more valuable when it gets scarcer.  LBLOCK Price Movement...

Join Our Telegram channel to stay up to date on breaking news coverage No one can understand the meaning of FOMO better than those in the crypto space. The fear of missing out is a powerful force that can cause massive volatility in the market. Speaking of which, there’s a new crypto in the town causing panic in Tron and Cronos camps with sensational price action. Despite turbulent market conditions, Uniglo has been outperforming some major cryptocurrencies even before the launch. Several media outlets have reported about its presale demand that has led to a quickfire 55% increase in its value. But what’s moving the needle for Uniglo? Given how the events unfolded in 2022, the crypto market was badly in need of a stable asset class that could absorb extreme volatility. Uniglo grew out of this concern and developed a social currency asset-backed by rare NFTs, digitized gold, and digital currencies. The main objective here is to protect the price floor from fluctuations and be...

Source: AdobeStock / prima91 The major crypto exchange Binance on Thursday completed its last BNB token burn for the third quarter, with more than 2 million BNB tokens burned at a value of well over $500 million. The total amount of tokens burned during the quarter 2,065,152.42 BNB, and was comprised of token burns under Binance’s Auto-Burn feature, Pioneer Burn Program, and a program where a portion of gas fees in every transaction is burned, an announcement from Binance said. At the time of writing, the total value of the tokens burned was $563.8 million. Binance has officially stated that its burn programs aim to remove 100 million BNB tokens – half of the total supply – from circulation. The number of tokens removed in each burn is automatically calculated by the Auto-Burn formula developed by the exchange. “The BNB Auto-Burn provides an independently auditable, objective process independent of the Binance centralized exchange,”...