ETH has completed the Shanghai upgrade on April 13, and the LSD track and L2 have been activated again while opening withdrawals, and 470,000 ETH has been burned since the turn of ETH to POS, and the current average daily burn rate is 4.59 ETH/min.
According to Delphi Digital's report, the daily increase in ETH burning, combined with the rise of the ETH MEME sector, coincided with a small peak in ETH burning on April 18.
This means that the value of ETH will not only rise with the increase of leverage and the circulation of funds, but also with the gradual increase of user activity, the benefits of short-term ETH upgrades will continue to be hyped, and will eventually land on LSD, L2 tracks, L2 track ecology and ETH itself.
It is not difficult to see that ETH is accelerating deflation since the merger, which is also related to the frequency of on-chain interactions and the slowdown in staking of LSDs.
Back to the whole, ETH's burning deflation mechanism makes its value correlated with activity, here is an inventory of the leading and potential coins under the concept of deflation.
Deflationary concept currency inventory
Deflation concept head:
AVAX (Avalanche Protocol)
COCOS（Combo）
Recent deflationary concepts are hot:
MXT（MixTrust）
AVAX
AVAX is a one-layer public chain that serves as a platform for decentralized applications and custom blockchain networks. It bills itself as a competitor to Ethereum with the aim of replacing Ethereum as one of the most popular smart contract blockchains, which competes with ETH through higher transaction outputs of up to 6,500 transactions per second without compromising scalability.
AVAX since its launch, has carried out repeated adjustments and ecological layout, its X, C, P three public chains have made a good preparation for its compatibility, the total supply of AVAX when it was launched was 720 million, after a long period of deflation, the current circulation is 400 million, and under its deflation concept, the active AVAX ecology makes its token price soar from the bottom of $3 to $125.
Current market capitalization: $6.3 billion.
Current circulation: 326,620,500
Current total: 422,683,220
Initial total: 720,000,000
COCOS
Combo is a leading provider of scaling solutions for Web3 game development. Leveraging the world's top game engines, we are developing an open-source, decentralized, gaming-oriented Layer2 that is accessible to all. Our goal is to unlock the full potential of Web3 games by connecting game developers to the entire ecosystem in a seamless, cost-effective, and secure way.
COCOS has a rise of nearly 1000 times after completing the 1000:1 reduction, from the suspension to the opening period, the holder token with the 1000:1 ratio reduction, although there is no change in the value ratio, but the huge increase still attracts the attention of many investors.
Current market capitalization: $130 million.
Current total: 100 million.
Initial quantity: 100B.
MXT
MixTrust is a one-stop defi service platform deployed on Arbitrum, and its AI intelligent Defi service based on GPT4 technology is a relatively advanced function in the current Defi track, and MixTrust's DID decentralized identity has been logged in, and will be large-scale promotion, application and project binding and porting.
As one of the current hot spots, MixTrust not only meets the AI and Arbitrum ecology, but also meets the current Web3 hot DID concept, which is equivalent to one of the coins with the greatest potential in the near future.
MixTrust's token MXT has strong deflation, users in the platform for various activities, such as transactions, payments, pledges and other actions consumed MXT will all be blackhole address and deflation, the future can be found on the chain is that a large number of MXT will be destroyed in use.
The recent MixID will also introduce a burning mechanism, MixID is bound to Token, and the total amount of MXT changes from 10 billion to 100 million, and the tokens in the hands of users are reduced by a ratio of 1/100, similar to token merger.
This means that MixTrust's reduction rate has reached a staggering 99%, and with the same chip distribution ratio, users' tokens will be reduced by 100 times, and the value of MXT will be increased by 100 times.
Current market capitalization: $1.3 million.
Current circulation: 726 million.
Total: 10 billion.
Total after reduction: 100 million.
The subject of deflationary upgrades, MixID
MixID makes the DID2.0 product launched by MixTrust, different from the traditional DID, MixID is not absolutely bound to KYC on the basis of integrating SBT and VC certificates, and uses the fingerprint recognition technology of traditional partners to create an intelligent POP, which protects user privacy and also defends against witch attacks to a certain extent, and is more secure and convenient for transplantation and authorization.
For MixID, with the blessing of technology, how to promote and land is the pain point of DID projects, for Web3 users, DID is not unfamiliar, but according to Dune data statistics, only 10% of users have participated in DID related products, most of which wallet addresses are strongly related to Airdrop, which means that DID is still relatively niche in Web3.
summary
Although most of the current deflationary concept coins are derived from MEME and Doge, for the entrepreneurial group deeply engaged in Web3, the deflation mechanism is tantamount to having a better circular value incentive for its token economy, and showing a better value reflection of its project.
ID is Binance's IEO project, belongs to the DID section, today OK also listed ID, it seems that OK will also start to layout in the DID section, and at the same time from the Space ID official Twitter observed that Mxt and ID reached a cooperation!
Four reasons why not choose MXT instead of Space ID!
1. The current price of ID is relatively high, the room for rise is limited, and the profit we get from it is not particularly large
2, Space ID is currently in the second phase of the airdrop, there is no need to choose to enter, the airdrop is very good
3. MXT's current market capitalization is low, one-eighty of the market capitalization ID! The price is relatively stable, as the representative currency of the Ouyi DID sector, I personally think that OK will not miss this opportunity!
4. MXT deflation mechanism: After MXT deflation, the total number of MXT tokens will be reduced to 1/100, that is, 100 million, and the tokens held by all users will become 1/100 of the original in equal proportions. This means that after deflation, for example, the 100 coins you hold will become 1.
Compared to other deflationary currencies, such as AVAX in 2020, it rose a hundredfold before deflation and a hundredfold increase after deflation. You can do an ambush early, not to mention getting a hundred times the income like AVAX, but at least eating a few times is not a problem!
Don't overjoy as soon as it goes up, fall a little, and frighten, the future is always the future. As a leek, you should find such a project and participate early in order to achieve ultra-high returns. If you want to make money, you have to explore deeper than others, otherwise why let you make money!