Fractal's first halving burned a total of 4,275,161 FB.
Approximately 2.196 million FB came from remaining early Index Mining rewards, 579,000 FB from public test rewards, and 1.5 million FB from the second-year ecosystem treasury—all records are verifiable on-chain.
Seeing the burn, retail investors may assume the price should rise. Yet FB is currently around $0.31, down about 9% in 24 hours, 15.5% over the past seven days, and 22.4% over the past 30 days. Meanwhile, BTC is still rebounding, indicating weak buying pressure for FB.
This burn did not involve repurchasing on the secondary market; it primarily addressed unissued allocations. It reduces future supply but does not bring in new buying capital.
The burned amount accounts for roughly 2% of the maximum supply. After halving, 25 FB are still generated every 30 seconds, approximately 72,000 per day and 26.28 million annually—about six times the amount burned.
Official data shows that approximately 109.6 million FB are currently in circulation, with 45.7% still unissued. Index Mining has staked about 12.6 million FB, locking up part of the circulating supply, and staking rewards also generate new selling pressure.
The direction of this burn is correct—the supply pressure has indeed decreased somewhat. But for the price to recover, Fractal must attract more users, trading volume, and capital to absorb the daily newly minted FB.

