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Token Burning
Token burning refers to the process of permanently removing a certain number of tokens from circulation to reduce the total supply. This process is often used by blockchain projects to increase the scarcity and value of a token by decreasing the supply. Token burning is usually accomplished by sending tokens to an address where they cannot be accessed or spent (a burn address). Binance Coin (BNB) is an example of a cryptocurrency that undergoes regular token burns to reduce its circulating supply. These burns occur periodically, based on Binance's revenue, to make the remaining tokens more valuable.
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