Bitexen has added a new one to the destruction processes it has been conducting for over two years for EXEN Coin. According to the information on the Ethereum blockchain, Bitexen burned 149,710.40 EXEN Coins this month.
Bitexen has burned a total of 1,422,748.33 EXEN Coins since January 2019. The supply of EXEN Coin, with a total amount of 15 million, fell to 13,577,251.67 after this transaction.
Relieves pressure on price
EXEN Coin developed as a loyalty project; It was distributed to users free of charge in five different stages. Bitexen uses some of the revenue generated on the trading platform to buy back these tokens.
Bitexen, which burned 110,263 tokens last month, destroyed 149,710.40 tokens with the 17th destruction process on March 24. Half of the income from crypto assets for the purchase of tokens; All of the income from EXEN Coin is used.
The burning process carried out every month results in a permanent decrease in the EXEN Coin supply. This is expected to ease the pressure on the price. Burning operations can be followed on Etherscan.
All EXEN Coins will be withdrawn
The buyback mechanism followed by Bitexen will continue until all distributed tokens are retrieved. Operating in ITU Arı Teknokent, the company performs purchasing transactions on the EXEN / TRY board.
Users who do not sell EXEN Coin for sale can still keep their tokens in their own wallets. Bitexen; distributes EXEN Coin free of charge with referral program, award winning campaigns and competitions.