PRESS RELEASE. Hong Kong, February 23, 2021 – CoinEx, a global and professional cryptocurrency exchange service provider, announced on last Saturday that it has finished a historic burn of 1.08 billion locked CoinEx Token (CET) allocated to the CoinEx team for team building and market development at one time. This CET token burn is the highest one ever carried out by the exchange.

After this burn, the total circulation is 4.34 billion CET, with a market capitalization of approximately 113 million USD. At present, the amount of CET automatically repurchased by CoinEx each day far exceeds the mining output of CoinEx Chain. CET token has officially entered absolute deflation,and became a fully circulating platform token. Through this initiative, CoinEx provides CET holders with greater long-term value.

CoinEx Pioneers Daily Repurchase Mechanism

CET’s original quarterly repurchase and burn initiative was launched on July 1,…

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Source: https://news.bitcoin.com/coinex-burns-all-1-08-billion-locked-cet-allocated-to-the-team/