MetaBit Network Initiates Mass BMTC Token Burn
CryptoNewsTerminal Staff09 Sep, 2024
MetaBit Network Initiates Mass BMTC Token Burn
MetaBit Network took an important step towards preserving the value of its BMTC token by announcing a substantial burn. The public blockchain intends to burn 35 million BMTC, approximately 23.6% of its current supply. This action aims to stabilize market volatility and enhance the token's overall stability. In addition to the planned burn, MetaBit Network revealed that it recently bought back 1.1 million BMTC. These tokens will also be burned as part of this initiative. The network's commitment to long-term growth and the well-being of its token holders is evident in these measures. By reducing the supply of BMTC tokens, MetaBit Network intends to increase their scarcity, which could positively impact their value. Furthermore, the token burn is a proactive step towards addressing market volatility and enhancing the token's overall stability. The network's decision is expected to be well-received by the community and contribute to the long-term success of the MetaBit Network ecosystem.
