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RE: Burning on the Backside

in #burn10 months ago

I saw some of posts the include #burn but Really till now I dont understand , maybe it's some thing economically , it's hard for me ..

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I saw some of posts the include #burn but Really till now I dont understand , maybe it's some thing economically , it's hard for me ..

HIVE is a fungible token. That means the price of all HIVE is the same and trades at the same price.

The price for HIVE is determined by the amount of HIVE that is floating on the market at a given time.

The price is currently falling because the float of the coin is larger than the limited number of buyers can absorb.

There are two ways to reduce the float. Powering Up locks the HIVE in HP for a given amount of time. Burning floating tokens eliminates the coin for every.

If you go to CoinGecko.com and look at the price of HIVE; you will see figures saying the price of HIVE and the market value

https://www.coingecko.com/en/coins/hive

When I looked the price was $0.77 and the market cap was $287,461,176. Powering up does not reduce the market cap. Burning actually reduces the market cap by the amount burned.