100,000 Cent Burned
Hello again. The cryptocurrency market has been in for a shock in the past few days. Almost all cryptocurrencies lost value. In about four days, 50-80% depreciation occurred. Hive saw a sharp loss of value between $0.87 and $0.36 in six days. Cent Token was also affected by this sharp drop. There is no depreciation on the basis of Hive. However, there was a 40% depreciation in dollar terms.
For the aforementioned reasons, we made some strategy changes in the prize pool and liquidity pools. We've announced these before. We burned about 5.2% of Cent tokens in circulation today. Below is the data on the token burning:
https://hiveblocks.com/tx/d3b06107a57f30b2eebd3acd38ea7ee6a5f3c319
Token burning is one of the primary methods of increasing value in cryptocurrencies. We will apply this method when necessary. In addition, changes in liquidity pools will continue. And we will continue to create new liquidity pools. We will also continue to make updates to the prize pool to ensure Cent is moving towards targeted value.
See you in new posts. Stay tuned.
#CENT is simply AWESOME !LOLZ
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It's a total rip-off.
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Thank you.
I put in an order at 0.01 HIVE - I guess I’ll have to wait until Hive is worth USD for it to go through😝🙂
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Thank you for the Comment. Hive was $0.87 while Cent was $0.012. Any algorithm etc. It could not adapt to the rapid depreciation in the Hive, where it was not used. I think it will approach the targeted value after a while.
I’ll leave my buy order in :)
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Keeping the faith in Hive.
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I agree with you. And so let's keep accumulating Hive.
I have a lot of faith in the greater Hive ecosystem, and CENT is definitely showing itself to be one of the "sturdier" tokens on Hive-Engine, as far as maintaining value goes.
=^..^=
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Thanks for sharing your thoughts.
Really a good work, thanks for taking care of our cents!
Thanks for the comment. I hope it gets better.
You are doing great in keeping it stable dear, I believe CENT is as important as HBD for Hive-Engine transactions.
Many thanks for your hard work. Anytime you need help, we are always ready to give a hand
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Thank you for your thoughts and contributions. Of course, your support will take the project further. We contact you when needed.
I was wondering the same also. while the cent price looks the same toward hive, but it was went below dollar terms.
I am not sure which one is better to buy cent now with the current hive price, or wait for hive to go up and buy it. But definitely will buy it as soon as I have extra hive to spend.
It looks like a very serious and deliberate plan), I wish you success in this!
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Thank you very much for your good wishes. : )
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This was due to the rapid depreciation of the Hive In. Hive is the main currency in Hive-engine. When the trade takes place with Hive, the stable crypto currency that will be based on becomes hive.
We can say that this is a holiday by the fire, I like shish kebab from burned coins, no matter how you marinated these coins and with what side dish you serve them to the table)
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Lets! Let's warm up our environment :) I hope Hive price sees 2.5-3$ levels again.
I'm really looking forward to this, very, very, very!)
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Yay! 🤗
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Great update!
Thanks!
I thank you.
You're welcome! 😊
It is a very audious task to peg CENT at $0.1 price. Thanks for all the efforts.
In a bid to spice engagement, I have called for a related discourse in this post. Perhaps there are other ways that could be adopted to peg the CENT price by utilizing the token other than burning them.
Yes.... You have another fact here. I think if we consider utility, it may help keep the cent price at it green state.
Your work is fine. Thanks for your contribution.
Thanks a lot for your work!!
Keep it up :)
Thank you for your support.
Having a burning mechanism in a token is really important. This is a very good step to protect the value of the asset and help it to gain value in the future. I am much more interested in tokens with a burning mechanism. Thank you for trying to protect the value of the CENT.
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I thank you. I hope that will be useful. And it continues to watch close to the targeted price.
Amazing to know this. Never the less, it's still green to invest. Thanks for the information
I thank you. We will continue the burning process when necessary.
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Interesting 😍
Good news! I like CENT