Bitgert has announced the burning of 7.4 trillion BRISE tokens, equivalent to $4.5 million. This operation aims to reduce circulating supply and support price stability.
Conducting the BRISE Token Burn
The burn of 7.4 trillion BRISE tokens is part of a strategy to decrease their supply in the market. This aligns with previous burn events aimed at supporting prices and enhancing market dynamics.
Market Reaction to the Token Burn
The market's reaction to the token burn has been rather muted, with no significant price fluctuations observed. The BNB and ETH networks hosting such contracts remained unaffected.
Analysis of the Burn Strategy
Previous burn events, such as the one connected to the launch of the zero gas fee BRC20 blockchain, led to short-lived price increases followed by corrections and volatility. Analysts suggest that Bitgert's strategy reflects a focus on an active market presence. The sustainability of these measures hinges on addressing transparency issues and engaging actively with the wider crypto community.
The BRISE token burn is part of a broader strategy by Bitgert aimed at price stabilization and supply management. However, concerns about transparency and the anonymity of the team remain pertinent for investors and the community.
