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The Biggest CRPT Burning Has Finally Begun

12 July 2021, 12:07

2 min reading

The Biggest CRPT Burning Has Finally Begun

Crypterium has burned more than 1 million CRPT tokens confirming the first step in a series of extra burnings

The Biggest CRPT Burning Has Finally Begun

We are pleased to report that over the last week, the Crypterium team collected 1,080,765 CRPT tokens that were successfully burned on July 11, confirming the first step towards burning 30% of the total supply. At the same time, Crypterium confirms that the burning amount will be growing further since the team will be redeeming tokens from the open market for burning purposes.

CRPT is a Crypterium’s native token and a key player inside the ecosystem. This digital asset was developed on top of the Ethereum blockchain to ensure stability and scalability for all crypto-to-fiat services provided by Crypterium Wallet, Crypterium Card, as well as all B2B partners.

Every time when a crypto-to-fiat transaction appears inside Crypterium, a 0.5% gas fee in CRPT tokens is charged and burned at the end of the month. Until now, our burning rate exclusively depended on transactions, however we decided to change things and bring some extra burning in town. 

We have already burned more than 2,500,000 CRPT tokens in total, and that’s just the beginning. If you look at statistics, you will see that Crypterium is rapidly growing, increasing the user base, number of transactions they make, cash flow, and all other metrics. 

It is also worth noting that the CPRT circulation supply stands at 82,500,000 tokens, while more than 18,000,000 tokens are currently frozen on savings accounts for up to 12 months. Therefore, it means that the actual supply could be significantly lower than expected today. 

While Crypterium financials are growing, the burning volume is growing as well. During the last year, we’ve burned around 400K CRPT tokens, which was a very significant increase compared to the year before. However, we’ve already burned over 1,800,000 CRPT tokens this year, or to be more precise, in 6 months.

In the past year, Crypterium has doubled its user base to more than 500,000 users from 170+ countries. The company registered a 10X growth of its monthly gross profit in 2020 with a turnover of €150.000.000.

Moving forward, Crypterium is forecasting to hit a €200.000.000 monthly cash flow within the next two years. Such a sum would represent a burn volume of €1.000.000 worth of CRPT tokens, a significant increase from current levels.

Even though the burning amount is increasing itself, reflecting an increase in the transactions volume, the Crypterium team confirms it plans to speed up the process by redeeming tokens from the crypto exchanges.  

We also would very much like to express our appreciation to all crypto communities and crypto enthusiasts that participated in our burning.

Learn more about CRPT burning and stay tuned.

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The Biggest CRPT Burning Has Finally Begun
The Biggest CRPT Burning Has Finally Begun