Burning HIVE! | How much HIVE is Burned and How? | Apr 2025

in Hive Statistics19 days ago

Hive has been around since March 20, 2020. Let’s take a look how we are doing when it comes to burning HIVE.

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The initial option that was built-in for burning HIVE was the promote option. On the old chain there was a promote section tab, that was mainly not used by almost anyone. Now this tab is no longer on Hive.Blog so the initial idea for burning HIVE is not available now.

PeakD have developed their own model for promotion and burning HIVE and it seems that it is used a bit. Not on a massive scale though, but yet there is some.
Other options for burning HIVE are the cost for creating accounts and community (3 HIVE) and also for making proposals.

From technical standpoint we can summarize the burning options in three sections: In the past there were a few initiatives for burning tokens with setting null as beneficiary on posts like the @burnpost. Now this initiative is runed by @buildawhale with voting on the comments.

  • Transfers to null
  • Null as post beneficiary
  • New accounts creation fee

Another big source of burning HIVE can be the HIVE to HBD conversions, but those are two ways and always floating. Lately they have been more inflationary.

The period that we will be looking here is from 2020 to 2025

Transfers to @null Account

Here is a breakdown by month for HIVE transferred to null.

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The chart is on a monthly level.
Here we can see that there is one big burn event with transfers to @null in February 2021. The chart is even cut out to 5k for visibility while the transfer is to 200k. This was a transfer made from the previous account that was used to peg the HBD price. In the last period we can see that the overall transfers to @null are insignificant and in small amounts. On average around 150 HIVE per months has been burnt per month in the last period.

Top Accounts Making Transfers to @null in 2025

Who has been transferring to @null? Here is the chart for 2025.

image003.png

The @jakethortondev account is on the top. My guess these are promotions of PeakD.

Setting @null as Beneficiary

Another way for burning HIVE is setting @null as beneficiary. For the not so familiar what this means, it basically sent the rewards for that post to @null, burning them.

Here is the chart.

image005.png

The chart is on a monthly basis.

We can notice the spike in the amounts of HIVE sent to @null as post beneficiary. This is due to the renewed campaigh by @buildawhale that is making a daily burn post with multiple comments that can be voted on. Some large stakeholders are using this to burn HIVE. In the last months around 25k HIVE per month is burned from @null as beneficiary.

Top Accounts Setting @null as Beneficiary in 2025

Here is the table for top users that burned HIVE in the period with setting @null as beneficiary in 2024.

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The @buildawhale account is dominating this chart with 72k HIVE burned in 2025. There is a big drop after this account with the next with 1k HIVE.

Account Creation Fees

Another way of burning HIVE is from the creation of HIVE accounts.
Here is the chart.

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The chart is on a monthly basisi.
We can notice the spike in the amounts of HIVE burned from account creation fees back in September - October 2021. In this period Splinterlands created a lot of accounts and burned a lot of HIVE in the process. Close to 2M HIVE was burned in a period of three months.
In the other months this number is very low, with around 1600 HIVE burned per month.

Top Accounts Burning HIVE from Account Creations Fees in 2025

Here is the table for top users that burned HIVE in the period from acount creation.

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All these accounts have used HIVE to create new accounts.The @hive-recovery account is on the top here followed by @gixnn.

Cumulative HIVE Burned

Here is the chart for the cumulative HIVE burned by category.

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This shows that account creation fees has the larger potential to burn HIVE.
When we zoom in 2024-2025 we can see the folowing chart:Here we can see the dominance in the burns from the account creation fees in September 2021 by Splinterlands and the one big transfer to @null in February 2021 with 200k HIVE burned. In the last period we can see the null as beneficiary option taking over.

image015.png

Here is a clearer representation.We can see the growth starting from February 2024. The beneficiary part is dominant, account creation fees are second and tranfers to null are almost non existent. Between 20k to 30k HIVE burned per month in the last year.

Cumlative the share from 2020 looks like this:

image017.png

The account creating fee is still domainating with 78% share, although in the last period it has been a small amount. The null beneficiary comes on the second spot with 14%.


If we consider the HIVE inflation with around 2 million new tokens created per month (depending on HBD prinitng), the sum above is small. There is some effort for impleenting systematic sollution to burn HIVE, like the way Peakd is doing it, but this has obviously not scaled.

Burning HIVE is mainly about reducing inflation. Infation is a long debated topic here and the point is that it can be easely offset by growth and demand. The official inflation is around 6% now but it can greathly be moved in one direction or another depending on the HBD conversions. 2024 for example was projected around 6%, but ended up with 9.5%.

HIVE to HBD conversions can have a lot more powerfull impact in the amount of HIVE removed from circualtion, but I have not included those one here since that HIVE is not techicly burned but it has changed form so to speak and can in theory be returned back.
From the above we have seen that creating new accounts has been the largest source for burning HIVE. While this has mostly happened in a one time spike it is still has the most effective way for burning HIVE. We just need to onboard users 😊. On the second spot is the beneficiary accout from curation.

All the best
@dalz

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I'm intrigued by how account creation fees and null beneficiary settings contribute to burning HIVE. The charts and stats are super helpful in understanding the trends. Great job with the data analysis 💪

Wow that's quite big numbers of burn... I wonder without what would be the price of hive

So by paying 3 HIVE each for creating three accounts for my student, sister, and sister-in-law, I unknowingly burned 9 HIVE. 😆

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I didn't know that pitching burned Hive.

Not a good look with buildawhale up on this list

As buildawhale is one of Hive most hated accounts and one of the accounts that makes people leave Hive 😂

It's also a large farming operation account

The buildawhale burns new Hive and Hbd so it does nothing 😂

Burn all of it

Thats a lot of Hive being burned.
I wish they would send it to me, so I could stake it and use it for curation.

The @buildawhale account is dominating this chart with 72k HIVE burned in 2025. There is a big drop after this account with the next with 1k HIVE.

Don't forget the HBD as well.

In the last 12 months @buildawhale has burned:

250,740.33 Hive & 65,356.31 HBD or around $128,041 USD