Serum Burns $1M Tokens, Sends SRM to New High of $12 By CoinQuora


Serum Burns $1M Tokens, Sends SRM to New High of $12
  • Serum recently burned and dropped a combined $1.3 million of SRM.
  • Serum is one of the world’s top used DEX on the Solana blockchain.
  • The SRM price is trading at a new 2021 high, changing hands at $12.

Serum announced in a Twitter post on May 3, that it has currently burned and dropped to stakers a combined $1.3 million of SRM.

Serum is an actively used global decentralized exchange (DEX) that is on the Solana blockchain. Notably, users prefer the DEX due to its low transaction costs and speed. Also, the DEX destroyed 84,538 SRM or $1.03 million. At the same time, Serum dropped 21,134 SRM worth $254,000 to stakers.

The first Serum burn was in September 2020 where the exchange burnt $400K of SRM. The burn constitutes 100% of Serum’s revenue. Also, Serum burnt and dropped another $600K late in April 2021. Notably, a total of 50 million out of 10 billion SRM tokens are currently in circulation.

Still, the team is keen on limiting…

This article was first published on

Continue reading on CoinQuora

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.