Daily News 19

Tag: Token burn

  • Polygon Price Rises 12% Since 100M POL Burn — Can It Hold Above $0.11?

    Polygon Price Rises 12% Since 100M POL Burn — Can It Hold Above $0.11?

    Key Highlights

    • Polygon permanently burned 100 million $POL tokens—approximately 1% of total supply—worth roughly $10.22 million on September 23.
    • $POL has surged nearly 12% since the burn, trading near $0.113, but faces immediate resistance at the $0.115 level.
    • The burn introduces a community-governed, fee-funded mechanism linking future token removal directly to Polygon network activity.

    Polygon Executes Major $POL Token Burn, Removing 1% of Supply

    Polygon has completed a significant token burn, permanently removing 100 million $POL from circulation on September 23. The transaction, confirmed by Polygon Foundation CEO Sandeep Nailwal, destroyed tokens valued at approximately $10.22 million at the time of execution. This reduction represents roughly 1% of the token’s total supply and marks the activation of a new deflationary mechanism designed to tie future burns directly to network usage fees.

    Fee-Funded Burn Mechanism Links Supply Reduction to Network Activity

    The burned tokens originated from network fees accumulated within Polygon’s fee-collection system. Beyond the immediate supply reduction, the event inaugurates a process allowing the community to trigger subsequent fee-funded burns. This governance feature creates a direct feedback loop: as transaction activity on the Polygon network generates fees, the community can vote to destroy a portion of those fees, dynamically adjusting supply in response to real-time demand for blockspace.

    $POL Price Action Tests Critical Resistance at $0.115

    Since the burn, $POL has appreciated approximately 11.6%, climbing to the $0.113 area at the time of writing. The token briefly touched $0.11497 during the most recent session but failed to sustain momentum above the $0.115 threshold. Technical analysts identify this level as the nearest hurdle for buyers; a decisive break could open a path toward the $0.12 price level. However, the $0.12–$0.125 zone may present stiffer resistance, as the market previously staged a sharp rejection there earlier in September.

    Support Levels and Demand Dynamics Will Determine Next Move

    On the downside, the $0.107–$0.110 range serves as the first critical support. Holding this band would signal that buyers remain committed to the post-burn recovery. A breakdown below that area could see price retrace toward $0.102, near the launch point of the current advance. While the burn strengthens Polygon’s supply-reduction narrative, sustained price appreciation remains contingent on sufficient demand to defend and build upon recent gains.

    Why This Matters

    Polygon’s shift to a programmatic, fee-based burn model represents a maturation of tokenomics for a major Layer 2 scaling solution. Unlike one-time manual burns, the new mechanism embeds deflationary pressure into the protocol’s ongoing operations, aligning tokenholder incentives with network adoption. For investors and developers, the key metric to monitor will be whether rising Polygon network activity—measured in transaction fees—translates into consistent community-approved burns that meaningfully contract supply over time. The immediate price test at $0.115 will also serve as an early gauge of market confidence in this revised economic design.

    Frequently Asked Questions

    How many $POL tokens were burned and what was their value?

    Polygon permanently destroyed 100 million $POL tokens, worth approximately $10.22 million at the time of the September 23 transaction.

    What makes this burn different from previous token burns?

    This burn activates a recurring, community-governed process that allows future burns to be funded directly from network transaction fees, linking supply reduction to actual Polygon network usage.

    What are the key price levels to watch for $POL after the burn?

    Immediate resistance sits at $0.115; a break could target $0.12, though the $0.12–$0.125 region has previously rejected price. Key support lies between $0.107 and $0.110, with a deeper floor near $0.102.

  • Polygon to Permanently Burn 100 Million POL Tokens

    Polygon to Permanently Burn 100 Million POL Tokens

    Key Highlights

    • Polygon Foundation CEO Sandeep Nailwal announced a permanent burn of 100 million $POL tokens, with the contract already deployed to testnet and pending Polygon Security Council signatures for mainnet launch.
    • The one-time burn draws from a fee collector holding roughly 121 million $POL, and the community will be able to continue quarterly burns of incoming base-fee revenue going forward.
    • Polygon has operated in a deflationary state since January 2026, reporting approximately $24.5 million in 2026 revenue as ecosystem activity — including PayPal’s PYUSD stablecoin — fuels the burn mechanism.

    Polygon Foundation Unveils 100 Million $POL Token Burn to Cement Deflationary Model

    Polygon Foundation CEO Sandeep Nailwal has confirmed that the network will permanently remove 100 million $POL tokens from circulation, marking a decisive step in the blockchain’s shift toward a sustainably deflationary token economy. In a post on X, Nailwal revealed that the burn smart contract has already been deployed to testnet and will migrate to mainnet once the Polygon Security Council completes its final signatures. The move follows months of community governance discussions focused on aligning $POL supply dynamics with growing network usage.

    Burn Mechanics: One-Time Event with Recurring Quarterly Cadence

    The initial 100 million $POL burn is structured as a single, one-time execution sourced from the protocol’s fee collector, which has accumulated approximately 121 million $POL to date. Once the contract goes live on mainnet, the design allows the community to continue burning $POL that flows into the collector on a quarterly basis, converting base-fee revenue into a recurring supply-reduction mechanism. Polygon has been in a deflationary state since January 2026 as network base fees have steadily accumulated in the collector, and the burn converts that idle capital into a permanent contraction of token supply rather than leaving it dormant.

    Strategic Rationale: Linking Supply to Real Network Activity

    Token burns are a widely adopted tool for networks aiming to offset ongoing token emissions and underpin long-term value accrual. For Polygon, this initiative builds directly on the transition from MATIC to $POL and the broader roadmap toward an aggregated blockchain ecosystem. By permanently removing tokens from circulation, the foundation signals confidence in the network’s capacity to sustain fee revenue generation over time. $POL functions as the native gas and staking token across the Polygon ecosystem, and its supply dynamics have been a focal point since the migration away from MATIC. Routing a portion of fee revenue toward permanent removal ties token supply directly to measurable network activity — a model gaining traction among major layer-1 and layer-2 chains competing for sustainable tokenomics.

    Why This Matters

    The burn announcement arrives against a backdrop of tangible business momentum. According to the foundation, Polygon generated roughly $24.5 million in revenue during 2026, reflecting the network’s ability to monetize blockspace at scale. Meanwhile, Polygon Labs has executed a strategic pivot toward blockchain-based payments, and the ecosystem continues to attract high-profile stablecoin deployments — most notably PayPal’s PYUSD stablecoin on Polygon. This sustained, real-world usage feeds directly into the fee collector that now powers the burn mechanism, creating a self-reinforcing loop where adoption drives revenue, revenue fuels burns, and burns tighten supply. For stakeholders, the move clarifies the economic architecture underpinning $POL and sets a precedent for programmatic, community-governed supply management in a multi-chain environment.

    Frequently Asked Questions

    When will the 100 million $POL burn execute on mainnet?
    The burn contract is live on testnet and will move to mainnet once the Polygon Security Council completes its final signatures. No specific date has been publicly disclosed.
    Will there be additional burns after the initial 100 million $POL?
    Yes. The mechanism is designed to allow the community to burn $POL flowing into the fee collector on a quarterly basis, turning recurring base-fee revenue into ongoing supply reduction.
    How does this affect $POL holders and stakers?
    By permanently removing tokens from circulation, the burn reduces total supply, which can support token value if demand holds steady or grows. Stakers continue to earn rewards from network fees, while the burn ensures a portion of those fees contracts supply rather than re-entering circulation.
  • Polygon to Burn 100M POL as Revenue Hits $24.5M, Token Impact Uncertain

    Polygon to Burn 100M POL as Revenue Hits $24.5M, Token Impact Uncertain

    Key Highlights

    • Polygon Foundation CEO Sandeep Nailwal announced a plan to permanently burn 100 million $POL tokens, representing approximately 1% of the circulating supply, pending Security Council approval.
    • The burn mechanism is fueled by protocol revenue that reached $24.5 million year-to-date, with DeFiLlama data confirming annual revenue crossing $25 million—a two-year high.
    • $POL price surged 10% on the announcement, contributing to a weekly 20% recovery, though whale sell-offs of over 30 million tokens and resistance at the 50-week moving average ($0.11) pose near-term headwinds.

    Polygon Unveils Aggressive $POL Deflationary Strategy Ahead of Anticipated Bull Cycle

    Polygon Foundation CEO Sandeep Nailwal took to X on Friday to outline a bold tokenomics shift designed to position the network for the next cryptocurrency market upswing. The centerpiece of the announcement is a proposal to permanently remove 100 million $POL tokens from circulation—a figure equivalent to roughly 1% of the current circulating supply. The initiative is funded directly by the protocol’s own revenue streams, which Nailwal highlighted have reached $24.5 million year-to-date. The proposal currently awaits final sign-off from the Polygon Security Council before implementation can begin, after which the foundation intends to conduct manual quarterly burns.

    Polygon is printing revenue. $24.5m YTD. We are deploying a change that lets anyone in the community trigger its burn.

    — Sandeep Nailwal, CEO, Polygon Foundation

    Revenue Growth and Competitive Positioning Drive the Burn Mechanism

    The burn capacity is anchored in Polygon’s evolving revenue model. Base fees on the network automatically accumulate $POL in a collector wallet, which currently holds 121 million $POL valued at approximately $1.2 million. According to data from DeFiLlama, the protocol’s annualized revenue has surpassed $25 million, marking a two-year high. Nailwal asserted that Polygon’s strategic pivot toward payments—specifically stablecoin-based transfers—has yielded fee traction three times that of Arbitrum and five times that of Near Protocol. This revenue foundation is what makes the recurring burn mechanism sustainable, moving beyond a one-time event to a structural deflationary feature.

    Market Reaction: Price Surge Meets Technical Resistance and Whale Selling

    The announcement catalyzed an immediate market response, with $POL surging 10% on Friday. The move extended the token’s weekly gain to 20%, aided by a broader market tailwind as Bitcoin reclaimed the $80,000 level. However, the rally unfolds against a backdrop of significant technical hurdles. The token had previously rallied 80% in Q3, climbing from $0.07 to $0.11, before a sharp pullback in late August. Since September, price action has consolidated above the $0.09 support level, which coincides with the 200-day Moving Average.

    Overhead Resistance and On-Chain Signals Temper Optimism

    While the daily Relative Strength Index (RSI) remained below overbought territory at press time—suggesting room for further upside—the Average True Range (ATR) was flat, signaling low volatility that could make a decisive breakout difficult. The $0.11 level represents a critical confluence of resistance: it marked the local high of the August rally and aligns with the 50-week Moving Average, which previously capped gains. Adding to the selling pressure, on-chain analytics from Santiment revealed that key whale wallets dumped over 30 million $POL in the last three days. This profit-taking activity could stall the recovery, increasing the probability of a retest of the $0.09 support if the $0.11 barrier holds. Conversely, a clean break above the 50-week MA could signal the start of the next major recovery leg.

    Why This Matters

    Polygon’s move signals a maturation of Layer 2 tokenomics, shifting from inflationary emissions to a revenue-backed, deflationary model. By tying token burns directly to protocol fees—generated largely through stablecoin payment volume—Polygon creates a direct feedback loop between network utility and token scarcity. This contrasts with many peers that rely solely on staking rewards or fixed supply caps. The initiative also underscores the growing importance of real-yield metrics in crypto valuation; DeFiLlama’s verification of $25M+ annual revenue provides a tangible fundamental anchor. For investors, the interplay between the new burn mechanism, whale distribution patterns, and the $0.11 technical resistance will be the key variables determining whether $POL can convert short-term speculative interest into a sustained trend reversal.

    Frequently Asked Questions

    What triggers the $POL token burn and how much will be removed?

    The burn is triggered by protocol revenue accumulated in the collector wallet, which currently holds 121 million $POL. The initial proposal seeks to permanently burn 100 million $POL—approximately 1% of circulating supply—pending Security Council approval, followed by manual quarterly burns thereafter.

    How does Polygon’s revenue compare to competing Layer 2 networks?

    According to CEO Sandeep Nailwal, Polygon’s fee traction from stablecoin-based payments is currently 3x that of Arbitrum and 5x that of Near Protocol. DeFiLlama data corroborates this, showing Polygon’s annualized revenue crossing $25 million, a two-year high.

    What are the key price levels to watch for $POL following the burn announcement?

    Immediate resistance sits at $0.11, which aligns with the 50-week Moving Average and the August local high. Support is established at $0.09, reinforced by the 200-day Moving Average. A break above $0.11 could signal trend continuation, while rejection may lead to a retest of $0.09, especially given recent whale selling of over 30 million tokens.

  • Polygon to Conduct Permissionless Burn of 100 Million POL

    Polygon to Conduct Permissionless Burn of 100 Million POL

    Key Highlights

    • Polygon Foundation CEO Sandeep Nailwal announced a permissionless contract to burn 100 million POL tokens—approximately 83% of the base-fee collector’s current 121 million token balance—with the first burn executing immediately upon mainnet deployment.
    • The one-time burn represents roughly 0.93% of the current 10.716 billion POL total supply and less than 1% of the initial 10 billion supply, falling short of the protocol’s planned 2% annual emission rate starting after June 2025.
    • Contracts are currently on testnet awaiting final Security Council signatures before mainnet deployment; subsequent quarterly burns will be triggerable by any community member.

    Polygon Prepares Permissionless Burn Mechanism for Base-Fee Collector

    Polygon Foundation CEO Sandeep Nailwal has revealed plans for a permissionless smart contract that would allow anyone to permanently destroy 100 million POL tokens in a single transaction, targeting the network’s base-fee collector that currently holds approximately 121 million tokens. According to Nailwal, the contracts have been deployed to testnet and will migrate to mainnet once the Polygon Security Council provides its remaining signatures. The initial burn would eliminate roughly 83% of the collector’s balance, leaving approximately 21 million POL before additional base fees accumulate.

    Burn Mechanics and Supply Impact

    Polygon’s documentation defines the base fee as a network-determined charge that is automatically burned, with each fee payment adding POL to the collector contract. The proposed 100 million token burn equates to 1% of the token’s initial 10 billion supply. However, with Blockscout data showing a current total supply of approximately 10.716 billion POL, the burn represents roughly 0.93% of circulating tokens. The mechanism does not impose a hard cap on POL supply; the token’s documentation specifies ongoing emissions with an effective annual rate of 2% beginning after June 2025. Consequently, the one-time reduction amounts to less than half the annual emission rate when both are measured as a share of total supply. Whether the overall supply contracts over time will depend on the pace of subsequent fee burns relative to new issuance.

    Deflationary Claims and Revenue Comparisons

    Nailwal stated that POL has been deflationary since January 2026. He also posted revenue comparisons claiming Polygon generated $24.5 million in 2026 revenue, versus $8.41 million for Arbitrum and $5.6 million for Near. The executive attributed the analysis to “my analyst at ChatGPT” and did not disclose the underlying dataset or methodology used to derive the figures. The claims remain unverified by independent sources.

    Why This Matters

    The proposed burn mechanism introduces a community-governed deflationary lever atop Polygon’s existing fee-burn architecture. By making the burn permissionless and repeatable on a quarterly basis, the foundation shifts control from a centralized schedule to an open, trigger-based model. However, the modest scale of the initial burn—under 1% of supply—combined with a programmed 2% annual emission rate means the token’s long-term supply trajectory remains inflationary unless fee activity accelerates substantially. The reliance on an AI-generated revenue comparison without cited methodology also highlights the growing influence of generative tools in shaping public narratives around protocol performance, warranting scrutiny from analysts and investors alike.

    Frequently Asked Questions

    When will the first 100 million POL burn occur?
    The burn will execute on mainnet after the Polygon Security Council provides its final signatures. As of Nailwal’s announcement, the contracts are on testnet and the first burn has not yet taken place.
    Does this burn create a hard cap on POL supply?
    No. Polygon’s token documentation confirms ongoing emissions at a 2% effective annual rate starting after June 2025. The burn is a one-time reduction; future supply dynamics depend on the balance between quarterly fee burns and new token issuance.
    Who can trigger the quarterly burns after the initial event?
    According to Nailwal, the permissionless contract design allows anyone in the community to trigger subsequent quarterly burns once the mechanism is live on mainnet.
  • Altcoin Price Surges 11-Fold

    Altcoin Price Surges 11-Fold

    Lisk (LSK) Surges Over 500% in 24 Hours, Triggering $38 Million in Liquidations

    Lisk ($LSK) emerged as one of the most volatile altcoins in the cryptocurrency market over the past 24 hours, posting an intraday price surge of 512.7% before a sharp pullback. The token reached a high of $1.71 before retracing to approximately $0.98, according to market data.

    Record Liquidations and Short Squeeze

    Coinglass data indicates that approximately $38.37 million worth of $LSK positions were liquidated in the last 24 hours, making Lisk the market leader for liquidation volume during the session. On-chain analysis platforms noted the price climbed from a low of $0.20 to a peak of $2.37—an 11-fold gain from the session low. Roughly $36 million in short positions were wiped out during the rapid ascent, signaling a severe short squeeze.

    Alleged CEO Wallet Moves 3.3 Million LSK to Binance

    Following the price spike, on-chain investigators flagged a notable transfer from a wallet allegedly linked to Lisk management. Approximately five hours after the sharp rise, an address believed to belong to Lisk CEO Max Kordek transferred 3.3 million $LSK to Binance. The transferred tokens were valued at approximately $3.79 million at the time of the transaction. Analysts noted this address used the same Binance deposit address previously utilized by the Lisk CEO for gas fees.

    Ecosystem Transformation and Token Supply Reduction

    The extreme price action coincides with a comprehensive restructuring of the Lisk ecosystem. Key developments include:

    • Strategic Pivot: Lisk announced a shift toward a treasury and fund operations platform targeting business finance teams.
    • Lisk Chain Shutdown: The existing Lisk Chain is scheduled to be shut down on October 31st. Existing applications have the option to migrate to the Celo network.
    • DAO Termination: The Lisk DAO has accepted a proposal to terminate the DAO structure.
    • Token Burn: The project initiated a process to burn 100 million $LSK. If completed, the total supply will decrease from 400 million to 300 million tokens.

    Disclaimer: This article is for informational purposes only and does not constitute investment advice.

  • Hyperliquid Burns 32.77K HYPE as TVL Nears $7B: Can Bulls Recover?

    Hyperliquid Burns 32.77K HYPE as TVL Nears $7B: Can Bulls Recover?

    Hyperliquid Burns 32,770 HYPE Tokens Worth $2.65 Million as TVL Nears $7 Billion

    Hyperliquid’s native token $HYPE underwent another supply reduction this week as the protocol executed a buyback and burn of approximately 32,770 HYPE. The transaction carried a value of roughly $2.65 million at an average purchase price of $81.01 per token.

    According to on-chain data, this latest burn brings the cumulative lifetime burns to 48.57 million HYPE, representing an estimated $3.82 billion at current market valuation. The removed tokens account for approximately 4.86% of the total $HYPE supply. The mechanism permanently reduces the maximum circulating supply rather than temporarily locking tokens, converting protocol-generated revenue into deflationary pressure on an ongoing basis.

    While the burn mechanism continues to operate as designed, analysts note that supply reduction alone does not guarantee immediate price appreciation. Sustained revenue generation remains essential to maintain the scale and frequency of future buybacks.

    Rising TVL Strengthens Hyperliquid’s Burn Engine

    Underpinning the burn activity, Hyperliquid’s Total Value Locked (TVL) has climbed toward the $7 billion mark, up from a prior range near $6 billion. The acceleration began in September, pushing locked capital to near all-time highs.

    Daily protocol fees continue to reach several million dollars, with periodic spikes significantly exceeding baseline levels. This combination of elevated TVL and robust fee generation provides the economic foundation for recurring $HYPE purchases. However, the burn mechanism ultimately depends on durable platform usage rather than TVL growth in isolation. A sustained alignment of capital inflows and fee generation would enhance $HYPE’s long-term supply dynamics.

    Source: DefiLlama

    Derivatives Traders Show Tentative Return to Long Exposure

    On the derivatives front, positioning has shifted following volatile funding rate fluctuations throughout September. The $HYPE open interest-weighted funding rate briefly turned negative multiple times after September 8, but recovered into positive territory around 0.0012% by September 12, per CoinGlass data.

    The reversal suggests long positions have reclaimed a slight funding premium over shorts. However, current rates remain well below the higher positive levels recorded during late August sessions, indicating renewed long exposure has not yet returned to similarly aggressive levels.

    A sustained positive funding rate could support the demand outlook provided leverage remains controlled. Conversely, another move below zero would signal renewed short-side pressure.

    Source: CoinGlass

    $HYPE Price Action Tests Critical $78.50 Support After Channel Breakdown

    Price action presents the clearest near-term risk after $HYPE failed at the $88.14 resistance zone. The rejection pushed price beneath its rising channel before finding temporary stability around the $78.65 area.

    The $78.50 level has emerged as immediate structural support that will determine whether the breakdown deepens. A confirmed break below this threshold could validate a Change of Character (CHoCH) in price direction, signaling a structural shift to bearish momentum.

    Technical indicators align with the weakening structure:

    • MACD registered a bearish crossover accompanied by a negative histogram
    • RSI cooled to 50.69 after previously reaching overbought territory during the recent advance

    The RSI remains in neutral territory rather than oversold conditions, confirming the deteriorating technical structure without yet signaling capitulation. Successfully defending $78.50 could support stabilization and reopen a recovery attempt toward the $88.14 supply zone. However, losing the key support would reinforce the bearish structural shift and expose the $70 support region.

    Source: TradingView

    Key Takeaways

    • Hyperliquid’s recurring burns continue reducing $HYPE supply as TVL approaches $7 billion
    • $HYPE must defend $78.50 to avoid confirming a bearish Change of Character
  • Altcoin Surges Over 100% Following Token Burn Announcement

    Altcoin Surges Over 100% Following Token Burn Announcement

    IOST ($IOST) has emerged as one of the most notable altcoins in the cryptocurrency market after surging over 100% in value within the last 24 hours. The sharp price movement followed an announcement by the IOST Foundation confirming the permanent removal of 70 million IOST tokens from circulation.

    IOST Foundation Completes Token Burn

    The IOST Foundation announced that the burning of 70 million IOST tokens has been completed, permanently removing them from the total supply. The foundation stated that this process is part of its efforts to maintain a healthier supply structure while continuing to develop the IOST network and ecosystem.

    Large-Scale Binance Transfers Draw Attention

    Simultaneously with the price increase, large-scale IOST transfers on the Binance side also attracted attention. According to on-chain data, Binance transferred approximately $1.43 million worth of IOST from its cold wallet to its hot wallet and then began distributing the tokens to the exchange’s active liquidity addresses.

    According to the data, Binance has transferred over 285 million IOST between its active hot wallets so far. The transfers were mostly carried out in batches of 60 million to 75 million IOST, with an average price of approximately $0.00154. The value of the transferred 285 million IOST is estimated at approximately $440,000, while the main hot wallet still holds around 715 million IOST.

    This is not investment advice.

  • Crypto.com Repeatedly Rewrites Terms for CRO Holders

    Crypto.com Repeatedly Rewrites Terms for CRO Holders

    Crypto.com Slashes CRO Lockup Rewards by 25% or More

    Crypto.com announced it will reduce annual rewards on new $CRO lockups starting Thursday, cutting rates by at least 25% across its premium card tiers. The move marks another chapter in a multi-year pattern of roadmap revisions, retracted promotions, and altered token economics that have frustrated retail holders.

    New Lockup Rates Effective Thursday

    According to the update, the revised annual percentages for new lockups are:

    • Obsidian/Private tier: 6% (down from 9%)
    • Icy/Rose/Private tier: 5% (down from 8.5%)
    • Jade/Indigo/Pro tier: 3% (down from 4%)

    These reductions follow a 75% price decline for $CRO over the past year. Since its all-time high in November 2021, the token has lost 93% of its value, a drop that coincides with repeated benefit cuts, layoffs, and the recent Cronos blockchain outage that erased several hours of on-chain activity.

    From Monaco to Crypto.com: A History of Shifted Terms

    The current reward structure traces back to Monaco, Crypto.com’s predecessor. Monaco originally sold MCO with an “asset contract” funded by a 1% fee on certain card transactions, allowing holders to burn MCO for a proportional share of that contract. By late 2017, Monaco removed the asset contract from its roadmap, citing regulatory changes, and replaced it with a cashback rate of up to 2%.

    In November 2018, Crypto.com promised 60 monthly $CRO airdrops to eligible MCO holders over five years. The program ended in June 2019—roughly seven months in—with more than 50 scheduled distributions never delivered. The remaining allocation was redirected elsewhere.

    During 2020, the company pushed MCO holders to migrate to $CRO on a new blockchain contract, then ceased support for unswapped MCO across its product suite. While the MCO token technically survives on Ethereum, its company-backed utility does not.

    Card Benefits Continue to Contract

    In May 2022, Crypto.com cut cashback rates and initially planned to eliminate card staking rewards entirely after 180-day terms expired. Community backlash prompted a partial reversal within days, allowing existing users to retain prior rates until expiry.

    Since then, premium perks have steadily diminished:

    • Vendor rebates: Airbnb, Expedia, and Amazon Prime rebates—advertised for top tiers in 2020—will be removed from Icy, Rose, and Obsidian rewards programs by 2025.
    • Non-staking spend rewards: The 1% and 2% cashback on cards issued before November 6, 2024, has been eliminated.
    • Lounge access: Restricted in September 2025 to users with an active $CRO lockup, stake, or annual subscription. This month, Pro users saw annual visits halved, and Private tiers lost complimentary guest access in most markets.

    Token Burn Reversed: 70 Billion CRO Re-minted

    Perhaps the most consequential shift involves token supply. In February 2021, Crypto.com conducted a 70 billion $CRO burn, framing it as a step toward full decentralization. In 2025, the Cronos ecosystem—aligned with Crypto.com—announced plans to re-mint those same 70 billion tokens into a “Strategic Reserve,” effectively reversing the burn.

    Combined with the latest lockup reward cuts, the decision underscores a broader trend: retail investors have absorbed significant supply inflation and repeated benefit reductions while institutional partners appear to receive preferential treatment.

    As Crypto.com prepares to implement the new rates on Thursday, the community watches for further signals about the platform’s long-term commitment to its token holders and the stability of the Cronos network.

  • Shiba Inu Burn Activity Surges 1,307% in 24 Hours

    Shiba Inu Burn Activity Surges 1,307% in 24 Hours

    Shiba Inu Burn Rate Surges 1,307% as 46.25 Million SHIB Tokens Permanently Removed from Circulation

    Shiba Inu’s circulating supply contracted significantly over the last 24 hours following a massive token burn event that permanently removed tens of millions of SHIB from the market. According to on-chain data tracked by Shibburn, the network recorded a substantial four-figure percentage increase in its daily burn rate amid consistently growing network activity.

    46.25 Million SHIB Sent to Dead Wallets in Single Day

    As of Tuesday, September 8, blockchain data confirms that a total of 46.25 million SHIB tokens were transferred to irretrievable dead wallets over the preceding 24-hour period. This large-scale burn activity drove a 1,307% surge in the daily burn rate, signaling heightened on-chain engagement within the Shiba Inu ecosystem.

    The aggressive reduction in supply has pushed the weekly burn volume past 126 million SHIB, representing an approximate value of $678 at current trading prices.

    Price Action Diverges from Burn Momentum

    Despite the bullish implications of reduced token supply, SHIB’s price momentum has shown signs of slowing. The asset is currently trading slightly above the $0.0000052 mark and moving in negative territory for the session. Market analysts note that while large burn events reduce the available supply for sale—potentially boosting demand and improving scarcity—the metric alone cannot sustainably drive price appreciation.

    The current divergence between aggressive supply reduction and stagnant price action is not considered unusual by analysts, as token burns represent only one factor among many influencing market valuation.

    Supply Dynamics and Network Growth

    The latest burn figures underscore a tightening supply dynamic for the leading meme token. By permanently removing tokens from circulation, the network effectively increases the scarcity of remaining SHIB, a mechanism often viewed favorably by long-term holders. However, sustained price movement typically requires concurrent catalysts such as increased adoption, broader market recovery, or fundamental ecosystem developments.