3rd Buyback and Burn Outcome

. 1 min read

We are pleased to announce that the third LocalCoinSwap buyback and burn was completed on Saturday, June 20, 2020.

  • Amount of LCS burnt: 382,191.80 LCS
  • Average LCS buyback price: 0.00000104 BTC / 0.0097 USD
  • Price increase during buyback: 13.40%

The buyback was completed on a 3rd party order-book exchange for reasons of transparency.

The token burn can be seen on the blockchain here: https://etherscan.io/tx/0xd1bcb924832037bbcf4a3701954cd24fd012a838d663684eb6619bb94e71ecb2  

A breakdown of the buyback and burn as well as the quarterly volume figures can be found in our quarterly report.

Quarter 2, 2020 saw an increase in BTC trade volume in USD terms of over 91%  in comparison to Q1 (*using prices as of buyback dates)

This second burn represents a 31.6% increase in tokens destroyed as compared to he last quarter. In addition, the average buyback price was 51.6% higher. The price increase during the buyback period is reducing percentage-wise, representing an increase in liquidity on the orderbook during the buyback process.

We are excited to continue to serve the LocalCoinSwap and P2P cryptocurrency communities and to grow throughout 2020 and beyond.

Thank you for your continued support and stay safe!

Happy Trading,
The LocalCoinSwap Team

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