Cryptocurrency Development Tutorials, Guides & Insights

• Contract Address: Replace '0xTokenContractAddress' with the address of the ERC-20 token (e.g., USDT, DAI, or any other ERC-20 token).
• Wallet Address: Replace '0xYourEthereumAddress' with the wallet address whose token balance you want to query.
• ABI: We are using a minimal ABI with just the balanceOf function, which is all that’s required to query the token balance.

Once you’ve added the code, run the script:

const axios = require('axios');

// Replace this with your actual Etherscan API key
const apiKey = 'YOUR_ETHERSCAN_API_KEY';

// Replace this with the Ethereum address you want to query
const address = '0xYourEthereumAddress';

// Replace this with the contract address of the ERC-20 token
const contractAddress = '0xYourTokenContractAddress';

// Etherscan API URL to fetch the ERC-20 token balance
const url = `https://api.etherscan.io/api?module=account&action=tokenbalance&contractaddress=${contractAddress}&address=${address}&tag=latest&apikey=${apiKey}`;

async function getTokenBalance() {
  try {
    // Make the API request to Etherscan
    const response = await axios.get(url);
    const tokenBalance = response.data.result;

    // Log the token balance (Note: Token balances are often in very small denominations)
    console.log(`Token Balance: ${tokenBalance}`);
  } catch (error) {
    console.error('Error fetching token balance:', error);
  }
}

// Call the function to get the token balance
getTokenBalance();

• Replace 'YOUR_ETHERSCAN_API_KEY' with your Etherscan API key.
• Replace '0xYourEthereumAddress' with the address you want to query.
• Replace '0xYourTokenContractAddress' with the ERC-20 token's contract address (e.g., USDT or DAI token contract).
• This script queries the ERC-20 token balance for a specific Ethereum address.

> Important: Keep your private key secure. Never share it publicly or commit it to version control. For better security, consider using environment variables to store sensitive information like private keys.

Once your script is set up, run it from the command line:

For example, in token burn events, project developers often send tokens to this address to signal to the community that those tokens are now out of circulation. This is usually followed by a public announcement, detailing the number of tokens burned and the reasons behind the burn.

Token burns are typically done to increase scarcity, and scarcity can lead to a higher token value if demand remains the same or increases. The basic principle of supply and demand comes into play: when the supply of an asset is reduced, it becomes more valuable (assuming demand holds steady).

Use the following function to close an open order:

   def close_order(order_id, symbol):
       response = session.cancel_active_order(order_id=order_id, symbol=symbol)
       if response['ret_code'] == 0:
           print(f"Order {order_id} closed successfully.")
       else:
           print(f"Error closing order: {response['ret_msg']}")
       return response

   close_order('order_id_here', 'BTCUSD')  # Replace with your actual order ID