Burning is a process of permanently removing a portion of the coins in circulation in order to reduce their supply. It is often used by a wide range of altcoins and smaller tokens, conceptualized in reducing the total in circulation, for which a specific number of coins is sent to "special addresses". This is an address without private keys. Consequently, no one can access and all tokens located at that address will be lost. Thus, the coins become unusable, as they are outside a circulating space. Cryptocurrencies follow the principles of supply and demand to calculate the price. Scarcity is a central concept for determining the price of an asset, so burning makes the currency appreciate!