Within the last few days, the situation with the EDC cryptocurrency has fully changed. Now, if you decide to sell a coin you will miss the opportunity to get a high passive income and achieve financial independence.
Sounds too jaded? Let’s examine the situation first. In short: now you shouldn’t sell EDC, as the coin’s rate is increasing rapidly.
Let’s move on to the numbers.
On Monday, 4.2 billion EDC were burned, while more than 900 million coins were destroyed over the weekend. A total of 5.1 billion tokens have been removed from turnover. To date, only 4.9 billion of EDC coins remain in circulation, while the total emission has been reduced to 100 billion, which will be produced through mining by 2040.
What is the sense of the destruction of coins?
Companies burn coins to keep their asset prices rising. In addition, every crypto startup needs to get a profit by using tokens in the ecosystem of their project. This method has been successfully used by startups, traditional enterprises, as well as by global corporations (in the case of their shares). For example, in the spring of this year, Apple launched a plan to repurchase shares at $100 billion, followed by burning, and increased their stock dividends by 16%.
It is important that…
One of the most famous “burners” is the Binance exchange, which regularly destroys Binance Coin. The exchange practices burning by transferring money to an unavailable address. The same burning method was used by Tron developers. Coin burn is also practiced by such popular crypto projects as Ripple and mining giant Antpool, starting to burn Bitcoin Cash. Thus, little-known cryptocurrencies are also burned. SCRIV, SyncFab, Elastos, DigiPulse, Monoeci, OP Coin, ArbitrageCT, MyToken, as well as Fidelium are among them.
What should you do with EDC?
First of all, do not sell coins. After such a total “cleansing”, you have the most valuable asset in your wallet, that is a ticket to financial independence. A better solution would be to buy EDC coins, while the price still varies based on the old one. It is a reliable investment in your own well-being.
We wish you successful tradings! Keep up to date!