On December 31, an event that will go down in world crypto history will take place. An altcoin, which is on the radar of Turkish investors, will hold a huge coin burning event. Bitcicoin (BITCI), Turkey’s first domestic crypto money project, has started the countdown. Bitcicoin will hold a 45 billion coin burning event. The big news is that the number of Bitcoins in circulation has been reduced by about 25 percent. It is known that the burning of coins has a positive effect on the prices of cryptocurrencies. Therefore, the eyes of the entire market are now on BITCI… It is thought that this historical coin burning event will skyrocket the price. However, BITCI is not satisfied with this news and gives its trailer in bomb developments. Cryptocoin. com, we have compiled the details for you, let’s examine the subject together…
On December 31st, this altcoin will make history: Massive coin burning!
Turkey’s Blockchain giant Bitci Teknoloji shared its updated whitepaper with investors. Details of an event that will go down in history were shared in the whitepaper. Bitcoin (BITC) is here with an unprecedented coin burning event after the partnership news that made the headlines. Bitci Teknoloji announced that the total number of Bitcoins will decrease from 95 billion to 21 billion. This news was enthusiastically received in the market. In this context, the big countdown has begun and the burning of 45 billion coins will take place on December 31, 2021. The remaining 29 billion units will be burned over the next 2 years.
After the coin burning events, the number of Bitcoins in circulation will drop incredibly: It will decrease from 10 billion 382 million 611 to 7 billion 867 million 611. In addition, 2 billion 515 million Bitcoins will be locked for 2 years. In addition to the total supply, the number of Bitcoins in circulation will be reduced by approximately 25 percent. Coin burning is a special event and positively affects the price of the cryptocurrency. Bitcoin’s coin burning event is an unprecedented event. Because such a large amount of crypto money has never been burned in the market before. Now all eyes are on the BITCI burn that will take place on December 31st. Experts and investors believe that this event will skyrocket the price of BITCI. BITCI, which will sign an event that will go down in world history, is now rising on the market stage. Bitcicoin and detailed market data that will give you an unforgettable December 31st here
Bitcicoin is coming with “bomb developments, listings and partnerships”!
Bitci Teknoloji CEO Onur Altan Tan also detailed the new roadmap announced to investors as Bitcicoin 2.0. The popular altcoin BITCI will not stop and will continue its international stock market listings without slowing down. Recently, BITCI was listed on the giant Bitcoin exchange Bittrex, and its price rose incredibly with this listing. Judging by the statements of Onur Altan Tan, it is likely that Bitcoin will be listed on new crypto currency exchanges very soon. These developments and news make BITCI more special in other cryptocurrencies. It seems that the giant altcoin Bitcoin will not fall off the agenda with explosive developments, listings and partnership news.
What is coin burning? Why does it affect the price positively?
Coin burning occurs when a cryptocurrency is intentionally sent to an unusable wallet address to be removed from circulation. The address called “Burn address” cannot be reached or assigned to anyone. When a token is sent to a burn address, it is gone forever. Anyone who owns a cryptocurrency can burn it. However, this isn’t exactly something you want to do for no reason, as you’ll actually be throwing money away with this method.
Most often, it is the developers of a cryptocurrency who decide to burn a certain amount. The burning of cryptocurrencies reduces the supply and makes it more scarce. This shortage can lead to a price increase and benefit investors. For this reason, investors closely follow cryptocurrencies that will organize a coin burning event.