We are pleased to announce that an update on the reduction in the EDC coin number to 100 billion units has been published on the world-famous analytical website coinmarketcap.com. Thus, the real numbers of the total and circulating supply are presented on the platform.
As a reminder, the board of the EDC Blockchain main investors decided to carry out the process of coin burn in several stages and reduce the number of EDC in circulation.
EDC Blockchain, like many large companies, carries out the coin burn in order to strengthen the internal cryptocurrency position. This is a justified step since there is an EDC deficit and demand is stimulated, thereby, increasing the price of the cryptocurrency. After all, whenever there is a shortage, there is growth.
To date, the coins have been already destroyed in three stages: the first coin burn occurred on March 15th, 2019, during which 900 million units were withdrawn from circulation, while the second one - on March 18th, 2019, when 4.2 billion units were burned. The third planned EDC coin burn took place on April 20th, 2019, during which 1 billion EDC were destroyed. In general, over 6.1 billion units were burned.
Stay tuned for more positive changes at EDC Blockchain!