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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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3846515 No.3846515 [Reply] [Original]

Kyber.Network burn 6 million tokens this week

>> No.3846586

Expect the price to rise as they will burn about 7% of their current market cap

>> No.3846598

What a scam company. Just released and already doing the burning scheme to raise their own price. Never fucking trust chinks.

>> No.3846600

>>3846515
Kek I knew about this already. Wait a little later to spread the fomo to /biz/ on this.

>> No.3846679

>>3846515
where are the coins that they are burning currently being held?

if they are not on the market how can that affect price?

>> No.3846986

>>3846586
Why would the price increase for that

>> No.3846994

Is shit

>> No.3847241

>>3846515
nice to see that they look out for their investors.

>> No.3847261

>>3846986
are you dumb?

>> No.3847265

>>3846986
The price will increase because token is burned. That means less token circulating supply. You ever heard of supply and demand faggot?

>> No.3847347
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3847347

>>3846515
>burned 6 million
definitely going to need proof this happened.

>> No.3847385

>>3847265
where are they getting these tokens from? if they're not even in circulation in the first place how will it have any effect on the market? they're just burning tokens from total supply, this is just a dumb ass attempt at drawing attention to themselves.

>> No.3847585

>>3847385
Buybacks

>> No.3847619

>>3847585
did they actually do that though? or are they just burning their reserves?

>> No.3847634

>>3847619
I don't know. Their white paper says they do buybacks and burns. How would I know if they're lying or not

>> No.3847693

>>3846515
That 5-6 accounts for 3% of the price, I don't think it will make much of a difference. It's still overinflated from ICO price.

>> No.3848038

>>3847265
Gotcha.
But marketcap will remain