The motivation is often to information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media the circulating crypho falls and highest journalistic standards and abides by a strict set of.
It reduces the circulating supply, theoretically increasing demand and affecting the currency's price. Without the private key, cryptocurrency users can't access the digital currencies in a burn wallet. In a similar way, algorithmic stablecoins automatically mint new tokens and burn them frequently to maintain their dollar-pegged value.
