Crypto NewsAltcoinThis Altcoin Announced Burning, Its Price Mobilized!

This Altcoin Announced Burning, Its Price Mobilized!

Rollbit Coin (RLB), the token of the cryptocurrency trading platform Rollbit, rose 8% after the burn.

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Bitcoin, which had a strong start to October, rose to $28,500, but this rise did not continue.

At this point, BTC decreased by 2.5% in the last 24 hours and fell to the level of $ 27,570.

Apart from BTC, retreats were also seen in altcoins. Ethereum (ETH) 4.2% in the last 24 hours; BNB 2%; Dogecoin (DOGE) fell 2.7% and Caradano (ADA) fell 2.5%.

However, some altcoins did not pay attention to the general downward trend in the market and continued their rise.

One of these was Rollbit Coin (RLB), the token of the cryptocurrency trading platform Rollbit.

It seems that the “buy and burn” program of the Rollbit platform is behind this rise. Because the founder of Rollbit said in his post on his X account that they were burning RLB.

“Following Rollbit's strong revenue in September, the number of RLB hodlers on-chain exceeded 10,000 today.

Approximately $38,000,000 in revenue was generated across our three revenue streams, resulting in over $5,000,000 in purchases and burns in RLB (1.265% of circulating supply)!

“More purchasing, burning and on-chain fireworks will be coming soon.”

Accordingly, Rollbit generated $38 million in revenue last month and burned more than 1.2% of the circulating supply of RLB tokens, in line with long-term plans for its “buy and burn” program.

After this burning, the RLB price increased by 8%. At the time of writing, RLB continues to trade at $0.1424.

*This is not investment advice.

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