ALTAVA, the fashion metaverse platform, has made a significant announcement regarding a token burn.
In a recent post on its X account, ALTAVA revealed that they are preparing to burn 10% of the total TAVA supply by the end of August.
In the cryptocurrency industry, token burning refers to the process of permanently removing coins from circulation by sending them to a burn address.
100 Million Altcoins Will Be Burned!
ALTAVA has announced plans to burn 100 million TAVA tokens, equivalent to 10% of the total TAVA supply, by the end of August.
These tokens will be sourced from ALTAVA’s already unlocked reserve.
“To further strengthen the TAVA ecosystem and reinforce our community-centric approach, ALTAVA will burn 100 million TAVA tokens by the end of August, representing 10% of the total supply,” the company stated.
Following the announcement, TAVA’s price surged by as much as 40%. Although it has since retraced nearly half of those gains, TAVA is currently trading at $0.033 at the time of writing.
*Not investment advice.
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