Sensorium Corporation, the company behind the highly-anticipated digital metaverse Sensorium Galaxy, has burned 4.2 billion SENSO tokens reducing the existing supply by 70%. To date, this is the largest token burning in the entire history of cryptocurrencies. In dollar value, this supply shedding is estimated at $10 billion.
As of this writing, SENSO trades at $2.31. This ERC-20 token has seen a stunning 5X growth in 2021 alone. While the recent Bitcoin boom might have stimulated the notable price increase, the token has also become a popular choice among gaming-friendly holders.
This token burn comes as a crucial step to adjust SENSO supply following the token’s public sale cancellation. The project had initially generated an ample supply of 7.6 billion tokens foreseeing both private and public sales ahead. Yet, the latter was considered no longer necessary.
“The first private sale provided sufficient funds to support further product developments. For that reason, our team no longer considers the public sale