Crypterium Plans To Burn Up To 30% Of Total Supply

Jul 06, 2021
11:07
2 min reading

Choise.com team

CRPT is Crypterium’s native ERC20 token, developed on top of the Ethereum blockchain to ensure stability and scalability for all crypto-to-fiat services provided by Crypterium Wallet, Crypterium Card, as well as recently launched B2B solutions.

CRPT is the fuel for all crypto-fiat transactions. With each transaction, a fee equal to 0.5% in CRPT is taken from the user’s account and burned, reducing the asset’s supply and increasing the long-term supply and demand ratio.

Since the total supply amounts to 98,649,016 CRPT tokens, the ongoing burning will positively affect on token’s supply-demand ratio. The more transactions that are processed, the faster CRPT supply is reduced. Since 2018, Crypterium has already burned over 1.6 million tokens.

CRPT burning volume gradually increases

Crypterium burned 400,000 CRPT in 2020, which is a significant increase over the previous year. 2021 has also seen tremendous growth; more than 650,000 additional tokens have been burned, with a 63% increase in 2020.

A total of 1,459,456 CRPT tokens have been already burned since the Crypterium Wallet went live for the first time.

CRPT token burning is growing rapidly. By the end of 2021, at least 2,300,000 tokens will be burned, and if we take that same trajectory forward, it could reach as much as 30% of the total supply within two years.

Crypterium plans to speed up the process through tokens buyback from exchanges with their subsequent burning. To date, 22% of the CRPT circulating supply is temporarily locked in deposit accounts, so it won’t take too many burned tokens to have a significant impact on the supply.

“Until now, our burning rate exclusively depended on transactions. However, looking ahead, we’re planning to redeem tokens from the market for burning purposes. We are confident that increasing CRPT burning speed will have a positive impact on our ecosystem,” said Austin Kimm, COO at Crypterium.

The burning of CRPT tokens reduces the circulation supply because they are deliberately destroyed. The economic rules clearly state that reducing the quantity of any good in the market makes it more valuable.

Would you like to join us? CRPT token burn will run from the 5th to the 10th July, and if there are any tokenholders out there that would like to contribute to this process, we would be delighted to have you on-board.The burning process is starting in July 2021.

Learn more about burning here

Crypterium aims for high business performance

Crypterium has over 500,000 registered users from all over the world. The company registered a 10X growth of its monthly gross profit in 2020 with a turnover of €150,000,000.

Crypterium is on the way to hit a €200,000,000 monthly cash flow within the next two years. This amount would represent a burn volume of €1.000.000 worth of CRPT tokens, a significant increase from current levels.