In a puzzling move, an unknown individual destroyed $3.3 million worth of GMX and GNS tokens by sending them to a burn address.
. The total estimated value of the destroyed NFTs, based on current floor prices, is around 122 ether .
Burning refers to the practice of permanently removing tokens from circulation by sending them to an address no one controls. The specific intentions behind the actions remain unclear, and nd4.eth has not publicly commented or provided any explanation for the moves.The details regarding the identity of the individual and why they chose to destroy valuable crypto assets remain unclear.
"After a day of silence, nd4.eth burned another $3.59M worth of tokens today — most of which he has held for months. Since January this year, nd4.eth bought $1.8M of GNS and >$1M of GMX from Uniswap. He decided to burn it all in the past 2 hours - still with no explanation," Arkham Intelligence© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only.
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