Uniswap Burns 99.9% Of HayCoin Supply
HayCoin’s value has risen to almost $3 million when Uniswap’s creator destroyed 99.99% of the token supply.
As the first token distributed on Uniswap for testing before to its official debut, HayCoin (HAY) is presently worth more over $3 million.
In a lengthy tweet sent on October 20th, the CEO said that he has burnt 99.99% of the HAY token supply in response to internet users speculating on the value of the token and even buying and selling it for “significant dollar amounts.”
The CEO claimed that the HAY in his wallet was “valued at an absurd $650B,” despite the fact that HAY was never designed to have any monetary worth.
Adams said that the price predictions for HAY were “silly,” and that the CEO didn’t want his profile picture linked to the currency.
“To be quite clear, I will not be involved in any way going forward, have spent all of my HAY, and consider it ridiculous to speculate on. I’d also want a new logo that doesn’t use my PFP; if my picture is used in this manner, I may pursue legal action to have it removed”, Adams said.
Even if Adams has lost interest in HAY, the remaining 0.01% of the token supply is now worth a lot more than it was before he left.
Live data provided by CoinGecko shows that as of the time of publication, one HAY token was trading for $3,654,803. The self-reported circulating quantity of Hay tokens is 56 HAY.
With a 24-hour trading volume that indicates users are purchasing HAY tokens in fractions, it’s clear that the token’s sentimental value has drawn the attention of crypto investors.