EverGrow burning tokens 47x faster than Luna Classic in November
Luna Classic pumped over 500% in price in September following news that Binance would implement the controversial 1.2% burn tax.
Bullish sentiment appeared to be on point as Binance burned 5.6 billion LUNC tokens in the first week of the tax going live. Added together with LUNC burning from crypto exchanges and on-chain transactions, the total burn for October 1-7 was 7.1 billion LUNC – according to Terrarity.io.
At that rate, Luna Classic (LUNC) could have reached a price $0.1 within the next 20 years.
But it wasn’t to be.
The LUNC community voted to slash the burn tax from 1.2% to 0.2%. A further 10% cut of all burn funds was also voted to be used for ecosystem development. As a result the LUNC burns for November 1-15 totalled just 1.6 billion.
At this rate, LUNC would be looking to hit a price of $0.1 in over 300 years.
Read more about EverGrow here: https://evergrowegc.com/
EverGrow burns 47x more of its supply than LUNC in November
EverGrow is famous for its high transaction tax. You pay 14% of every buy or sell in a tax to the EverGrow community. The tax funds burning tokens, paying BUSD passive income to investors, funding liquidity and developing the ecosystem.
Just 2% of every transaction is set aside for burning EverGrow – but this tax destroyed 5% of the circulating EverGrow supply in the past 12 months.
That impressive EverGrow burn rate has just been significantly ramped up.
While Luna Classic has taken half of November to burn 1.6 billion tokens (or 0.003% of circulating supply) EverGrow has burned 670 billion in the past week alone (0.14% of circulating supply).
That’s 47 times more circulating supply burned in half the time.
Read more about EverGrow here: https://evergrowegc.com/
EverGrow on track for $0.01 in next 20 years – it’s worth just $0.00000009 today
How does EverGrow do it?
EverGrow uses a further 2% cut of the 14% transaction tax to fund ecosystem development. The funding led to the launch of an NFT marketplace called LunaSky in September. But there’s a twist. LunaSky sends 100% of its revenue to buying back and burning EverGrow.
More than $250,000 was collected in the first few weeks of LunaSky going live back in September.
Those funds have only just been deployed via smart contracts. Every hour, EverGrow is burning $500 worth of EGC. By the end of the month it’s estimated that 3 trillion EverGrow tokens could be destroyed – or 0.6% of the circulating supply.
Meanwhile, according to Terrarity, just 0.4% of the LUNC circulating supply has been destroyed since May.
If EverGrow can consistently burn 3 trillion tokens every month here on out it could destroy enough supply to get a price of $0.01 in the next 20 years.
That’s an increase of 11,111,000%.
The EverGrow burn rate will get a further boost in 2023 as EverGrow drops a crypto-integrated social media app (Crator), a wallet, a swap and partners with The Abstract to create a play-to-earn metaverse gaming experience.
Once investors learn of the EverGrow roadmap, it won’t take long for EverGrow to pump in price and become a top 50 project. It has just a $40 million market cap today – so don’t miss out!
Read more about EverGrow here: https://evergrowegc.com/
The post EverGrow burning tokens 47x faster than Luna Classic in November appeared first on Analytics Insight.
Luna Classic pumped over 500% in price in September following news that Binance would implement the controversial 1.2% burn tax.
Bullish sentiment appeared to be on point as Binance burned 5.6 billion LUNC tokens in the first week of the tax going live. Added together with LUNC burning from crypto exchanges and on-chain transactions, the total burn for October 1-7 was 7.1 billion LUNC – according to Terrarity.io.
At that rate, Luna Classic (LUNC) could have reached a price $0.1 within the next 20 years.
But it wasn’t to be.
The LUNC community voted to slash the burn tax from 1.2% to 0.2%. A further 10% cut of all burn funds was also voted to be used for ecosystem development. As a result the LUNC burns for November 1-15 totalled just 1.6 billion.
At this rate, LUNC would be looking to hit a price of $0.1 in over 300 years.
Read more about EverGrow here: https://evergrowegc.com/
EverGrow burns 47x more of its supply than LUNC in November
EverGrow is famous for its high transaction tax. You pay 14% of every buy or sell in a tax to the EverGrow community. The tax funds burning tokens, paying BUSD passive income to investors, funding liquidity and developing the ecosystem.
Just 2% of every transaction is set aside for burning EverGrow – but this tax destroyed 5% of the circulating EverGrow supply in the past 12 months.
That impressive EverGrow burn rate has just been significantly ramped up.
While Luna Classic has taken half of November to burn 1.6 billion tokens (or 0.003% of circulating supply) EverGrow has burned 670 billion in the past week alone (0.14% of circulating supply).
That’s 47 times more circulating supply burned in half the time.
Read more about EverGrow here: https://evergrowegc.com/
EverGrow on track for $0.01 in next 20 years – it’s worth just $0.00000009 today
How does EverGrow do it?
EverGrow uses a further 2% cut of the 14% transaction tax to fund ecosystem development. The funding led to the launch of an NFT marketplace called LunaSky in September. But there’s a twist. LunaSky sends 100% of its revenue to buying back and burning EverGrow.
More than $250,000 was collected in the first few weeks of LunaSky going live back in September.
Those funds have only just been deployed via smart contracts. Every hour, EverGrow is burning $500 worth of EGC. By the end of the month it’s estimated that 3 trillion EverGrow tokens could be destroyed – or 0.6% of the circulating supply.
Meanwhile, according to Terrarity, just 0.4% of the LUNC circulating supply has been destroyed since May.
If EverGrow can consistently burn 3 trillion tokens every month here on out it could destroy enough supply to get a price of $0.01 in the next 20 years.
That’s an increase of 11,111,000%.
The EverGrow burn rate will get a further boost in 2023 as EverGrow drops a crypto-integrated social media app (Crator), a wallet, a swap and partners with The Abstract to create a play-to-earn metaverse gaming experience.
Once investors learn of the EverGrow roadmap, it won’t take long for EverGrow to pump in price and become a top 50 project. It has just a $40 million market cap today – so don’t miss out!
Read more about EverGrow here: https://evergrowegc.com/
The post EverGrow burning tokens 47x faster than Luna Classic in November appeared first on Analytics Insight.
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