PundiX Announces Q2 Token Burn

IconCryptoNewsTerminal Staff24 Jul, 2024

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PundiX Announces Q2 Token Burn

PundiX (PUNDIX) announced via its official Medium that they have burned 2,020,800 PUNDIX tokens in the second quarter (Q2) of 2022. This burn is part of PundiX's ongoing token management strategy, which aims to reduce the overall supply of PUNDIX tokens and increase their value. The token burn was conducted on July 29, 2022, and the total value of the burnt tokens was approximately $14.14 million. This is the second token burn that PundiX has conducted in 2022, following the burn of 1,398,325 PUNDIX tokens in Q1. PundiX is a blockchain startup that is focused on developing the infrastructure and services that will enable the mass adoption of cryptocurrencies. The company's products include the PundiX XPOS, a point-of-sale (POS) device that allows businesses to accept cryptocurrency payments, and the PundiX Wallet, a mobile wallet that allows users to store and manage their crypto assets. The token burn is a positive development for PundiX and its community, as it demonstrates the company's commitment to reducing the supply of PUNDIX tokens and increasing their value. This, in turn, could attract new investors and users to the PundiX ecosystem.

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