Token Burn Update: 7 Million $SUT Burned
In a recent token burn event, 7 million $SUT tokens were destroyed, representing 10.6% of the total supply. This significant reduction leaves 16 million tokens available for mining.
The burn event, dubbed 'Burn Day', aims to increase token scarcity and potentially boost value for holders.
This follows a trend of token burning in the crypto space, with other projects like $SWO recently burning 8.84% of their circulating supply.
Token burns can impact tokenomics by reducing supply, but investors should always conduct their own research before making financial decisions.