World Liberty Financial has burned 47 million WLFI tokens in an effort to reduce supply and boost the declining token price, which has fallen over 31% since launch. The burn is part of a proposed buyback and burn program aimed at increasing scarcity and long-term ownership, amid ongoing market skepticism about crypto hype and institutional adoption. The launch has also caused Ethereum gas fees to spike, highlighting ongoing ecosystem challenges.
World Liberty Financial proposes using 100% of protocol fees to buy back and burn WLFI tokens to reduce supply and support the token's value, amid a 30% decline after launch and a large token unlock increasing circulating supply and holdings. The initiative aims to strengthen long-term holder confidence, but uncertainties remain about fee amounts and contingency plans.
FET, the cryptocurrency associated with the Artificial Superintelligence Alliance, is experiencing a bullish trend following the announcement of a new Earn-and-Burn mechanism set to launch in December, which will burn up to 100 million tokens. This has already led to a 9.19% price increase, with FET trading at $1.62. The token has broken out of a descending channel and is testing a key resistance level at $1.67. If it surpasses this, a price target of $2.56 is possible. On-chain metrics and rising open interest support a continued bullish outlook, suggesting further price gains.
The launch of Solana’s WEN meme coin saw a wild ride as hundreds of billions of unclaimed tokens were burned, significantly reducing the WEN supply. This led to a sharp drop in the token's price as holders began dumping them en masse after the claim ended. The project creators burned over 271 billion tokens, worth $35 million, representing over 27% of the total token supply. Despite the price fluctuations, WEN is now flat on the day at $0.0001398, down 23% from its all-time high. Meanwhile, Solana's SOL price is up nearly 8% amid the WEN frenzy and a rise in DeFi trading volume ahead of an upcoming token airdrop.
Six months after YouTuber Logan Paul promised to refund buyers of his NFT game project CryptoZoo, no refunds have been issued, according to YouTube investigator Stephen "Coffeezilla" Findeisen. Paul had also promised to burn his ZOO tokens, but there is no evidence that he or his manager have done so. The game itself has shown no progress since January, and the lawsuit against Paul and the CryptoZoo team for alleged fraud and failure to deliver the game is ongoing. Paul and his representatives have not responded to requests for comment.
