World Liberty Financial, a crypto project linked to the Trump family, burned 47 million tokens to curb the price decline. But will it work? ๐ค
*The Burn:*
- 47 million WLFI tokens burned, reducing total supply from 100 billion to 99.95 billion ๐
- Represents 0.19% of the total circulating supply, a relatively small decrease ๐ฌ
*Market Impact:*
- WLFI price dropped over 31% since launch, settling around $0.23 ๐
- Heavy selling from early investors and short sellers contributed to the decline ๐ธ
*Buyback and Burn Program:*
- Proposed using protocol-owned liquidity fees to fund periodic buybacks and burns ๐
- Goal is to increase scarcity and reward long-term investors ๐
- Community support is evident, with over 133 participants expressing their approval ๐
*Expert Opinions:*
- Kevin Rasher: Crypto market is still immature, and sustainable growth requires institutional adoption ๐
- Ma Ngeir Das Patashinskas: WLFI launch caused high gas fees on Ethereum, highlighting the need for better infrastructure ๐ค
*What's Next?*
The WLFI token's future depends on various factors, including regulatory decisions and market sentiment. Will the burn and buyback program be enough to stabilize the price? ๐ค #WLFI #CryptoMarket #TokenBurn #BuybackProgram #TrumpFamilyCrypto ยน
