The price of PUMP token saw a big surge after the parent platform Pump implemented a major supply reduction. fun, the token surged around 7.6% in just a day. This followed an announcement that nearly $370 million in PUMP tokens—around 36% of its circulating supply—had been permanently burned. This is one of the largest token burns we’ve seen in recent months, and it quickly caught up with traders. Token burns are when assets are burned (through an irreversible transaction to a dead wallet) and help reduce the overall supply in circulation while also enhancing value possibly driven by scarcity. In
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