Justin Sun Prioritizes Token Burn for SUN's Revenue

Tron's Justin Sun has disclosed that 100% of the SUN token revenue will be utilized towards token burn. This was met with positive sentiments

Tron founder Justin Sun has announced plans to allocate 100% of the SUN token revenue towards token burn. This announcement sparked optimism within the community as they anticipated a price rally for the token.

The native token of Sun Pump has surged in recent weeks and is seen as an alternative to Pump Fun.

Justin Sun’s Focus on Token Burn for SUN’s Revenue

Justin Sun highlighted plans for SUN crypto revenues as the token gains momentum. In a recent post on X (formerly Twitter), the Tron exec wrote that the SUN token burn would be announced soon, adding that 100% of revenues will go towards burning SUN tokens, reflecting a core value of the ecosystem.

“The SUN token burn will be announced soon and will become more regular. The team is focused on resolving API issues with revenue data. But, NO DOUBT, 100% of SUN’s revenue will go towards burning, reflecting our core value: what happens in crypto stays in crypto.”

Token burns are usually associated with a surge in prices as the platform’s popularity grows. Following the announcement, crypto users praised the move considering the present market sentiment.

Meanwhile, Justin Sun has maintained his positive stance on the token, offering to buy out the assets of naysayers who spread rumors about the asset.

For the haters and those who deliberately spread rumors against us, I’ll buy as much SUN has you have, right now, at $0.03. Sell me all you want. Then go fk off.

— H.E. Justin Sun 孙宇晨(hiring) (@justinsuntron) August 30, 2024

Recently, Sun announced raising the energy cap to boost TRX staking transactions following the SunPump.

What’s Next For SUN Price?

SUN price has gained momentum in recent weeks, driven by positive market sentiments and user frenzy. Crypto users on social media platforms pointed to the anticipated token burn as a significant driver of the asset, considering recent market activity. Currently, revenues stand at over $4 million, and the anticipated buyback is yet to commence.

SUN trades at $0.0362, an 8% jump in the last 24 hours following the announcement by Justin Sun. This reduces weekly losses as the broader market faced a correction after Bitcoin slipped under $59,000.

The above is the detailed content of Justin Sun Prioritizes Token Burn for SUN's Revenue. For more information, please follow other related articles on the PHP Chinese website!