CandleFocus Big Mistake: XRP Ledger User Accidentally Burns 10,000 Tokens
2024-10-28
Author: Content Editor
A transaction on the XRP Ledger resulted in the burning of 10,000 drop tokens, sparking speculation within the crypto community. The burn was reported by XRP Explorer XRPscan, leading many to wonder if it was a mistake or a deliberate action. Thomas Silkjaer of InFTF speculated that the burn may have been initiated by the issuer themselves. Drop is a meme coin on the XRP Ledger with over $10 million in market cap. First Ledger, a platform on the XRP Ledger, suggested that burning XRP launching tokens could create scarcity and drive up the token's supply. The surge in active wallets on the XRP Ledger in the past week adds further interest to the situation.
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