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The process by which users remove tokens (also known as coins) from circulation, thereby decreasing the number of coins in use, is known as cryptocurrency burning. Every minute, approximately 3.17 ETH is burned as a result of the recent London Hard Fork upgrade to the Ethereum network. The verdict on the implications of the burn procedure on the cryptocurrency market is still out. Some projects have burning events built into their code on a regular basis. The goal here is to reassure potential investors that the token's future supply will continue to shrink, alleviating concerns about inflation.