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Title: UPCOMING TOKEN BURN. Post by: almost09 on February 11, 2018, 02:18:12 AM rebellious coin 'rebl'. currently trading only on bit-z. has an upcoming token burn this feb 14, 2018. is said to burn 90million out of 390million total supply.
https://www.rebellious.io/rebellious-token-burn/ will this event somehow cause a rise on its value? https://www.bit-z.com/exchange/rebl_btc https://coinmarketcap.com/currencies/rebellious/#markets Title: Re: UPCOMING TOKEN BURN. Post by: mk4 on February 11, 2018, 02:32:08 AM Theoretically, it should, as the supply will be significantly lower. But still, it still always ends up depending if there's enough demand for it. If there's little to no demand than no matter how much they burn, the price wont change significantly.
Title: Re: UPCOMING TOKEN BURN. Post by: Beerwizzard on February 11, 2018, 02:54:46 AM Here is a quote from the provided link:
Quote from: https://www.rebellious.io/rebellious-token-burn/ As promised, undistributed tokens will be burnt to reduce the market cap and ensure that everyone who took part in the airdrop is rewarded for their ongoing loyalty and belief in Rebellious. From this date we can start putting our full focus on development. No, this token burn should probably have zero impact on the coin's price, they are doing it in order to keep the team's word to burn unsold tokens. Some potential tokenholders can take it as an important move saying something like " the team is great bla bla bla" but nothing more. Those tokens were undistributed and never got to the market. It could only have impact on the price if someone buy tokens from the market and only then destroy it. |