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Astar Network has announced a significant token burn, planning to eliminate 350 million ASTR tokens, which represents 5% of the total supply. This move, worth approximately $28 million, follows an official governance vote initiated seven days ago. The news has led to a spike in the price of ASTR, which is up more than 11% in the past 24 hours.
UPDATE: @AstarNetwork to burn 350M ASTR Tokens! This burn will remove 5% of the total supply, boosting token value and staking rewards. More details…↓ #AstarNetwork (By: @ComposableD) https://t.co/akDuKzGcfe
ASTR TOKEN PRICE SPIKES ON NEWS OF MASSIVE TOKEN BURN - $ASTR is currently up more than 11% on the 24h, following news of a significant reduction in the token’s supply. - Following an official governance vote, launched seven days ago, @AstarNetwork will burn an incredible 5% of… https://t.co/IOPJK114Sg https://t.co/uB0ENJ68Jj
[COINDESK] Astar Network to Burn 350M $ASTR, 5% of Total Supply