$SXP burned 17% of total supply

[ampu]

Swipe's recent burning of tokens demonstrates the CEO's determination to bring this project to the moon. This project has high trading volume and impressive resilience after each sale. I bought the SXP last time for $ 2.8 and quickly got out. Maybe next time I will keep it for a long time instead of a little profit.

[leea-1334]

I have said this before and I will say it many times again to anyone. Burning does nothing if the coin is not a POW with minted coins entering supply every new blocks.

What you have with SXP and many other coins that burn are just premined coins that mean nothing.

Imagine a supermarket saying all your loyalty points expire end of the year. Does expiry make the point value go up? Nope:)

[tabas]

It goes the strategy that there will be more of burning from different projects because they see it as a good activity to increase the coins value and liquidity.
I've seen SXP and there are a lot of talks about it before. Good luck to the swipe holders.

Aside from burning some of their supply, the best way to further increase its value is also being aggressive with their development updates. Also, reach out as many users as they can to use their app. Right now, the number of installs from google play is just 100k+. I believe they can do better than this number. Though I don't know how many users are already using from app store.

By the way, checking the reviews from google play, seems their customer service is not doing a great job to cater its users. Maybe, they need to add more staffs to address issues from their customers.

That needs to be improved and they should take it into account that it's very important to take those investors that are using their app. I have no personal knowledge how their app works.
But if most of the reviews say negatively, they have to take its attention and make those reviews be the source of their improvement for their app.

[Dump3er]

Actually, Swipe is already burning tokens from profit of there visa card. This is just the largest token burning if you read more the article. I'm an SXP investor after they release there card and I'm very bullish about there tokenomic since the founder goal is to drive the token price up through continuous burning using transaction fee profit. I appreciate there effort and dedication for the value of there token.

What about their qualification as a utility or security token? If they burn tokens frequently to drive the price up, could there problems on the horizon that the SEC does take action against them because they obviously function like a security? Do you have any information on that?

As far as I know the SEC rigorously categorizes such tokens or coins as security per se. I think there is more to come for other projects as well.

[ethereumhunter]

I do not know if that can be good for the project or not as the project still need to prove their work to their investor. But if by burning their token can help them to gain trust from the investor and lift the price, then that we will see that token will increase higher like other coins or tokens. Time will tell to us and we will see what will happen to that project.

SXP now below $10 and the price now is at $5, so that can be a good price for you if you want to buy. But I suggest you to analyze more to find the other info about the project.

[bayudndy]

As far as I know, burning eliminated about 17.5% of the supply. From there it comes close to the ultimate goal of having only 100 million SXP in circulation. And it has helped SXP grow significantly, besides I also see this project receiving a lot of support from everyone, and noticeably when I see them being supported by Binance.

[slashz9]

hmm good news, I mean CEO burnt all his coins and believe in the project that sxp will be successful in the future, this is an extreme measure that might make other people consider investing in this project.
Besides that cz and binance are also investors in this project.

[Shallow]

One of the things I have come to stop doing is comparing a project to another or saying this particular project will be the next this or that, the fact is every project have their area of specialization even though some copies a lot, but yet if the team can get their facts together their projects will always grow; just saying that SXP can only beat XVS if the team keeps working hard not only by token burn.
On the aspect of token burn, many projects are now doing it and in some cases it drives up price while in some it doesn't, although it depends on the project in question. Thus, with SXP burning their 17% of total supply will drive up the price of their token as it will be a bit scarce as lesser tokens will be in circulation and if the team continues doing their best and working on their use case, the token price will keep growing.

[Dump3er]

One of the things I have come to stop doing is comparing a project to another or saying this particular project will be the next this or that, the fact is every project have their area of specialization even though some copies a lot, but yet if the team can get their facts together their projects will always grow; just saying that SXP can only beat XVS if the team keeps working hard not only by token burn.
On the aspect of token burn, many projects are now doing it and in some cases it drives up price while in some it doesn't, although it depends on the project in question. Thus, with SXP burning their 17% of total supply will drive up the price of their token as it will be a bit scarce as lesser tokens will be in circulation and if the team continues doing their best and working on their use case, the token price will keep growing.

There is no point in comparing project to project. They all have their own technology.

I don't know when to prefer one over the other, but SXP with its burning is clearly making a statement to say that it focusses on increasing value.

[Nanda Dewi277]

SO, this is one of the reasons why SXP price increases significantly. the existence of burning tokens really gives certain influences to the supply, moreover to the price. commonly there will be a certain increase, normally.
But, of course, it will also depend on the fundamentals and also project itself. If they are not considered as shitcoins, they will have more and more chances to grow again and again.

[Dump3er]

SO, this is one of the reasons why SXP price increases significantly. the existence of burning tokens really gives certain influences to the supply, moreover to the price. commonly there will be a certain increase, normally.
But, of course, it will also depend on the fundamentals and also project itself. If they are not considered as shitcoins, they will have more and more chances to grow again and again.

I do't know if there are more burns to be planned or if SXP follows a certain schedule, but if there are more burns planned it makes SXP an attractive investment opportunity. I prefer if the teams announce it in a timely manner that more burns may happen and when they could happen. That way you can deny front running activities by the team itself.
It also increases trust if a burn or a buy back is announced and they execute that plan as per their announcement.

[Dexion]

As far as I know, burning eliminated about 17.5% of the supply. From there it comes close to the ultimate goal of having only 100 million SXP in circulation. And it has helped SXP grow significantly, besides I also see this project receiving a lot of support from everyone, and noticeably when I see them being supported by Binance.

SXP's growth is currently very good and certainly has provided many benefits for its holders, with increasing support and if indeed it is supported by Binance, it is predictable that its future development will be even brighter

[Gayong88]

Good news and a form of the marketing development process for SXP itself. just as BNB has burned some time ago so the amount of supply decreases from circulation and demand will be higher as it gets more limited going forward.

[Samurai trieng]

In my opinion, sxp is an altcoin that has good potential, the proof is that the SXP development team is very serious in looking for ways to improve the quality of sxp, one way to make the price increase is to reduce the supply of sxp, and now we can see the price of sxp go up again, hopefully SXP can continue.  thrive in crypto,

[SarangWallet]

$SXP founder Joselito confirmed that they just burned $200 million worth of $SXP (17% of total supply)!

Do you think it's the Next #XVS?

We haven't found any official information regarding the XVS burn, but there is information that the XVS price will hit $ 300 in the near future. Maybe one step to increase the price of the XVS by burning a number of existing supplay.

[Ararbermas]

well , i miss that news, and so far by this time SXP has pumped almost 25% , eventhough we know this time most of altcoin getting pumped too , but burning 17% from total supply is a huge amount, hope @cz burn bnb like that too  

wow what a great news.. Actually i don't know about this project but thats a big opportunity when someone's burning their token to make an improvement afterwards..good that op catch this in a right time, indeed the project seems genuine and trusted also.. Better luck next time for us it because it makes a big changes already..

[Princejebs]

Some weeks ago, CZ was shilling this guy when he said they have something big and caution with not a financial advise, then I thought it was a normal cruise and stalk they do normally on twitter and then some days later, sxp was been given as signal in crypto signal, the next was brrrrr with a big green candle 
This move is incredible and healthy for their community. I hope their relationship with binance continues to grow. Perhaps it's time to hop in and get some for long term investment, hopefully it will yield something some days.

[manok jepang]

In my opinion, this is a very good step for sxp growth going forward, because the reduced a supply of coins in the market will have an effect on sxp prices, I noticed that after the burn, the price of the sxp started to rises, of a course this will provide many benefits for shareholders. , I hope SXP can be the best investment in the future,

[Dump3er]

Some weeks ago, CZ was shilling this guy when he said they have something big and caution with not a financial advise, then I thought it was a normal cruise and stalk they do normally on twitter and then some days later, sxp was been given as signal in crypto signal, the next was brrrrr with a big green candle 
This move is incredible and healthy for their community. I hope their relationship with binance continues to grow. Perhaps it's time to hop in and get some for long term investment, hopefully it will yield something some days.

CZ usually is trustworthy and thinks first before he speaks, but you never know what kind of deals they could have made. Nevertheless, CZ wouldn't put his reputation on the line for a project he doesn't know very well or the people behind it. No financial advice either here.

[kawetsriyanto]

this is a very good step for sxp growth going forward, because the reduced a supply of coins in the market will have an effect on sxp prices

Nowadays, most crypto coins have a burning event, the team plans to make the value of the token to be higher. Sure, it is a good step for the further improvement of SXP, the price will increase and this can attract more people to buy SXP. I saw on many telegram group discussions, people are more interested to buy a coin with a burning event or burning program. With more people are holding SXP, the market caps of SXP improves. Then, the position of SXP on CMC to rank up soon.