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DEX Token $ETHETF Surges 26% Amidst Market Bullishness After 21% Supply Decrease

DEX Token $ETHETF Surges 26% Amidst Market Bullishness After 21% Supply Decrease

ETH ETF Token Continues to Burn Supply as Markets Flip Bullish

In November, the DEX token $ETHETF experienced a breakout and is now rapidly approaching its 21% total supply burn target. Just today, 1,000,000 tokens were burned, representing 1% of the total supply. You can track the burn on Etherscan. This ongoing burn mechanism aims to reduce the token supply by 21 million tokens.

Understanding the Mechanics of ETH ETF’s Burn Process

After its successful launch, ETH ETF token introduced a token burn program to reduce the supply by 21%. This burn mechanism eliminates the tokens from circulation by sending them to a null address on the blockchain. This deflationary effect contributes to significant price accrual.

$ETHETF Price Review: Potential for Recovery Surge Post-Burn

Following a recent retracement, $ETHETF is currently trading at $0.01030, with a 24-hour change of -5.89%. However, upside momentum has resumed, and the token has gained 27% after finding support at $0.008. The price action is indicating a bullish pendant pattern, suggesting a potential recovery surge.

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DEX Token $ETHETF Surges 26% Amidst Market Bullishness After 21% Supply Decrease