This is a popular exchange and specifically this exchange is popular because of its marketing strategy. They believe in aggressive marketing and because of that in the last few years, they have got a lot of users on board on their platform. It's not that they are trying to grab more users but they are also providing good services and their platform is pretty much vibrant offering a bunch of services under one roof.
The exchange has also got their tokens which are called CRO and it is called Chronos. The supply for this coin is huge in the market and this is why they have a burn mechanism in place. No as per the latest news update the exchange has published a proposal that is voted by the community and this proposal is to burn 50 million Kronos tokens. This is a very big amount and in the current track market price, the value of these tokens is four billion U S dollars. That's a big amount undoubtedly and with this burn we can see some value appreciation for this point in the market.
Crono'ss price rose after the developers proposed burning 50 million coins from the 70 million CRO in the community pool. This will be the fourth token burn in recent months. At current prices, these tokens are valued at approximately $4 million. The vote, which is expected to pass easily, will run through March 17.
The burn process is good from the token economy point of view because the major chunk of supply is burned and this affects the circulation supply also which means lower supply brings more value to the market. We can not say how things will be in future but for now, this news looks good and after the bur, the community is expecting a segregated value price appreciation in the token rise.
This is one of the exchanges that I have been using and I am happy with the services they offer so it is obvious that I have their tokens with me also but in the last bull run, I did not sell off anything. This time when I see a good value for the coin then I will book some profit because I believe this will be the right strategy I'm waiting for the right time but for now, let's cherish the current news update won here the exchange is going to burn fifty million tokens out of the seventy million reserves which will be unlocked in next ten years.
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