The promising project EnterCoin has recently started its journey in the crypto market after it was added to CoinMarketCap and traded on crex24.com exchange.
The team started this trip by announcing several interesting procedures and achievements, all are important. One of the steps they took was to burn 80% of the total token supply of 31M, to leave as low as 6,000,000 tokens as a total supply.
The transaction took place o n Monday April 29, 2019, when the tokens were send to the ENC-Brun-Address. The TX URL to confirm the burn is: https://etherscan.io/tx/0x47992eaf658700343e4c184cb657ec29b66685bb12a2804e6d64e2221c50b2e0
What does this mean to the project?
Lower number of tokens means a higher value per token. In this case, distributing the value of 31M tokens to less than 3M tokens, which presents less than 10% of the original number of tokens, boosts the value per token massively.
The projects that back up EnterCoin are already in place into one platform that offers crypto-trading and exchange platform with prepaid crypto cards that can be used to withdraw cash from millions of ATM’s in the world.
What does it mean to the holders?
Token holders are the most positively affected by this move. They guarantee that the market will never get flooded with EnterCoin, and that when the value rises they tokens they have are relatively rare and worth holding them for extended periods.
More importantly, this builds the trust towards the team which proved their commitments and delivered the promises on time overall, as they initially stated in the project’s road map in the white paper.
EnterCoin clearly is a promising project that one should keep an eye on it. It managed to maintain its value and respect on crex24.com at the time of this writing, and it definitely preparing for a huge bullish move in the coming period.