nd4.eth Burns Tokens And NFTs Worth Over $8.2 Million In Value

Key Points:

• nd4.eth burns tokens and NFTs, surpassing $8.2 million in total value.
• Recent burn includes ETH, GMX, GNS, APE, ARB, and valuable BAYC and MAYC NFTs.

On August 10, nd4.eth, an address in the cryptocurrency space, conducted a significant burn of 36,188 GMX and 311,003 GNS tokens, consigning them to oblivion. 

This move has propelled the cumulative value of tokens and NFTs torched by nd4.eth to surpass an impressive $8.2 million.

Ember, an on-chain analyst, reported the transfer of tokens into a black hole for destruction. The breakdown of the accumulated value includes 2502 ETH (approx. $4.68 million), 36223 GMX (approx. $1.78 million), 311603 GNS (approx. $1.53 million), 10000 APE (approx. $18600), about 2125 ARB (approx. $25000), 3 Bored Ape Yacht Club (BAYC) NFTs (#71, #289, #1368, valued at $160,000 collectively), and 2 Mutant Ape Yacht Club (MAYC) NFTs (#1826, #3573, valued at $21,400 combined). Additionally, 1 Bored Ape Kennel Club (BAKC) NFT (#6663) was burned, representing $4,000 in value.

The action of burning tokens and NFTs is not uncommon in the crypto realm. It is often seen as a way to increase the scarcity of tokens and to make a statement about the value of digital assets. As nd4.eth continues to burn tokens and NFTs, its cumulative impact on the cryptocurrency landscape remains noteworthy, with over $8.2 million in value eliminated through this process.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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