Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => Topic started by: coingabbarmarket on October 25, 2023, 12:59:23 PM
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Over Price Speculation Concerns, Uniswap Burns HAY Tokens
Hayden Adams, Uniswap founder, burned over 99% of the HayCoin (HAY) supply on October 20 due to worry about price speculation. The HAY token created for testing motives, saw unexpected trading activity, with a market value of around $650 billion. Burning tokens immutably removes them from circulation, impacting their price. HAY is currently trading at $2,392,640, up more than 235% in the past 24 hours. While the step had a remarkable effect, some users raised concerns about potential tax implications and suggested that Adams could have sold the tokens and donated the proceeds instead.
https://www.coingabbar.com/en/crypto-shorts-news/uniswap-founder-burns-hay-token-supply-amid-price-notion