HayCoin Skyrockets After Uniswap Creator Burns 99.99% of Token Supply
A test coin called HayCoin, created by Hayden Adams, experienced a significant surge in value after Adams decided to burn 99.99% of the token’s supply. Adams expressed discomfort with owning almost the entire supply and made the decision to burn the majority of HayCoin. As a result, the price of the coin skyrocketed by 307%, reaching over $2.5 million per coin.
HayCoin’s History
Adams shared on social media that he initially deployed HayCoin before the launch of Uniswap V1 for testing purposes. He created a small liquidity pool with a fraction of the total supply and kept the rest in his wallet. Over time, some people noticed it and bought it for novelty or as a joke. Adams expressed surprise at the recent significant trading activity surrounding HayCoin, considering it as a memecoin.
Adams clarified that he will not be involved with HayCoin in the future and burning his entire supply was a final decision. Speculating on the coin is deemed “silly” by Adams.
Hot Take: A Surprising Surge in Value
The decision by Uniswap creator Hayden Adams to burn 99.99% of HayCoin’s supply has led to an unexpected surge in its value. This move was prompted by Adams feeling uncomfortable about owning such a large portion of the token’s supply. The resulting price increase of 307% has captured attention within the crypto community. It is intriguing how a test coin, originally created for experimental purposes, gained significant traction and trading activity over time. This event serves as a reminder of the unpredictable nature of the crypto market and its potential for surprising outcomes.
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