Bitcoin entered October strongly after spending September in a certain range.
While this rise in BTC also affected altocins, some altcoins attracted the attention of investors with their rise.
At this point, Verasity (VRA), a popular metaverse altcoin, announced in its post that they held one of the largest community consultations in crypto history and as a result of this consultation, they burned 50% of their maximum supply.
In their statement, the team said that they will move the 90 billion tokens currently allocated for data circulation to a new blockchain network.
“Verasity (VRA) burned 50% of its maximum supply following one of the largest community consultations in crypto history and is also planning to move the 90 billion tokens currently reserved for data circulation to another new blockchain network.
Following consultation, the decision was made to burn 10 billion VRA tokens minted as part of the strategic reserve wallet held for future commercial use.
After today's burning, the circulating supply of VRA is limited to 10 billion. Today's 10 billion token burn represents one of the largest single burns of any crypto project to date. “
“Now, our consultation with the community and the subsequent burning of our strategic reserve tokens, approximately 50% of our maximum supply, proves that we are listening to our community and evolving our crypto ecosystem. This is part of our growth strategy for 2024, where we expect huge demand for our advertising solutions,” said RJ Mark, CEO and Founder of Verasity. “And now we're laying the foundation for that growth.” said.
#Verasity $VRA burns the entire Warchest (10bn tokens), and explores new chains for 90bn PoV marker token separation, following a landmark community-led consultation.🔥
👉Read our Press Release here:https://t.co/S5O9raMhnz
👉TX Hash here:https://t.co/FOnSnB4Ldl
Full… pic.twitter.com/Sj44SIlI2z
— Verasity (@verasitytech) October 2, 2023
After this announcement, VRA started to rise and experienced a 15% jump in the last hour. VRA continues to trade at $0.00569 at the time of writing.
*This is not investment advice.
