Token burning is a process of reducing the overall supply of a crypto asset by permanently removing a fraction of the crypto asset by sending it to an inaccessible wallet or a null address to be brunt.

That's very true, the purpose of the null accounts on the blockchains is to destroy the tokens that enters the address. Since the tokens are in the digital form and can not be burnt by fire, the null address is perfect way to do the burning because the accounts don't have a private key which means everything that enters there are off the market forever.

I also agree that token burn gives investors confidence over their investments and it also attracts more to get involved in the project. Good to read your post on the topic.