We had previously seen that on the Ethereum (ETH) blockchain there is an address that is used as Proof of Burn, to artificially burn the tokens of a certain project and to increase its scarcity. Here is the top 10 of the destroyed tokens.
Obviously, since anyone can send ERC20 tokens to this address, even the volume and amount of tokens found here exceed the value of ETH that the address has, just under 8000 ETHs, or just over $1 million.
The first position in this top 10 is occupied by the FCoin (FC) token which, with over 5 billion tokens out of a total of a 10 billion supply, burnt about half a billion dollars. The token is now valued at around $0.09.
In the second position, there is the Bytom (BTM) token which burnt 1.2 billion of the 1.4 billion originally created, with a value around $100 million, since the token is traded for $0.07 and is located at position 58 of CoinMarketCap.
The third place is occupied by Baer Chain (BRC), which has already burnt 76 million out of a total supply of 580 million. The value of the lost funds is around $93 million because, even if it is located in the last positions of CoinMarketCap, at 2214, it is still traded for $1.77.
Wooden medal for Arcade (ARC) of which there are now in circulation little more than 1 million tokens, considering that 8.5 million are in the burning address.
In fifth place in this top 10, there is Aion (AION) which burnt about half of its initial supply of 465 million. It is now traded at around $0.06 and is at the 127th position of CoinMarketCap.
In the sixth position, we see BQTX burning 306 million tokens out of a total 800 million, destroying a value of over $9 million and is valued at around $0.03. It ranks 263rd on CoinMarketCap.
Seventh place goes to Bgogo Token (BGG) whose 50% of the total supply of 10 billion went to the burning address. Despite the value of $0.0008, it is now at the 2332nd position on CoinMarketCap.
Third to last is DAPS Coin (DAPS), a project founded on September 29th, 2019. Despite being young, it has already burnt just under 43 billion tokens. On CoinGecko is at position 376 and is traded for $0.00006.
In the second to last place, there is Etheera (ETA) of which just under 34 billion ETA have been destroyed out of a supply of 75 billion, with a loss of just over $2 million.
Finally, there is Bottos (BTO) which has already destroyed 600 million of the 1 billion created. The token is located at position 669 of CoinMarketCap and is traded for $0.003.
So, in total if we add only these first 10 tokens, we would have a value of over $770 million in tokens that have been destroyed in recent years.
