Deflationary Cryptocurrencies for April 2022 – Binance Coin (BNB), EverGrow Coin (EGC), and Parody Coin (PARO)

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Cryptocurrency is the future in the eyes of its countless numbers of users. This once-fanciful projection began to bear fruit in recent years, particularly in 2021. Almost every major cryptocurrency had enormous rises, resulting in massive profits for investors. Bitcoin (BTC), the most popular cryptocurrency, more than doubled in value. Ethereum (ETH), the second-largest cryptocurrency, soared by more than 500% to a new all-time high.

Cryptocurrency fans are constantly on the hunt for the next big thing. Decentralised finance (DeFi), non-fungible tokens (NFTs), and Metaverse tokens have all been predicted to drive crypto into the future. Deflationary coins are another crypto type that has had a lot of success. Binance Coin (BNB), EverGrow Coin (EGC), and Parody Coin (PARO) are three prominent deflationary coins.

What are Deflationary Cryptocurrencies, and How Do They Work?

Deflationary cryptocurrencies are projects that, over time, reduce the number of their tokens. If a cryptocurrency’s supply shrinks by 5% every year, there are fewer and fewer tokens available for purchase. The fundamental goal is to increase the value of the coins that are still in existence throughout time.

Passive income is a huge issue in finance. Deflationary tokens, when done well, provide this coveted possibility. Projects will purchase back and burn tokens, thereby removing them from circulation by transferring them to a dead address.

Binance Coin (BNB)

Binance Coin (BNB) is the fourth-largest cryptocurrency by market cap. It is the Binance Exchange’s native token, and it can be used to pay for the BNB Chain’s minimal transaction costs.

BNB is a behemoth in the market, and its founder Changpeng Zhao is adamant that token burning is critical to the company’s success. A considerable amount of BNB is burned every quarter. According to some observers, the next burn, scheduled for this month, will be worth around 1,719,372 BNB (around $600 million at the time of writing).

According to some observers, the next burn, scheduled for this month, will be worth around 1,719,372 BNB (around $600 million at the time of writing).

EverGrow Coin (EGC)

EverGrow Coin (EGC) purports to be the first ‘hyper-deflationary’ token and aims to push deflation to the next level. It accomplishes this by implementing a buy-back system and charging an 8% fee on each transaction.

Over $30 million in rewards were awarded to EGC holders in the first three months after the system was launched, according to EGC Chairman Sam Kelly. This demonstrates that EGC can provide users with a source of passive revenue.

EverGrow Coin has a history of being extremely volatile, and 2022 has been no exception, with numerous peaks and troughs. EGC fell 9% over the past 24 hours but it has a history of bouncing back and is predicted to recover quickly.

Parody Coin (PARO)

Although Parody Coin (PARO) has not yet been released, it is now in the presale phase. Presales are the first opportunity to invest in any promising crypto project, as has been shown time and time again in the cryptosphere.

PARO is a Binance Smart Chain deflationary utility token (BSC). The project’s ‘Paroflection’ mechanism, according to its white paper, provides passive income in the project’s native coin PARO. Furthermore, their ‘ParoRewards’ system produces earnings in the BSC token of the user’s choice.

The Parody Coin (PARO) roadmap is divided into three parts and highlights the PARO team’s grandiose goals. Stages 2 and 3 in particular could and should entice crypto enthusiasts to participate in the PARO presale. Being listed on key sites such as CoinGecko and CoinMarketCap, introducing NFTs, onboarding influencers, and announcing a play-to-earn game are just a few of the highlights.

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