HayCoin, a token created by Uniswap founder Hayden Adams, skyrocketed to record high of $4.4 million after the founder burned 99.99% token supply. However, in last 24 hrs, its price dropped to $3.1 million declining 15%.
The test token was launched by Hyden in 2018. However, crypto community has noticed the token from developer and started playing around with it.
Hayden stated that people were buying and selling this token with a significant amount over the past week and treating HAY like a memecoin. “I’m uncomfortable owning almost the entire supply (~99.99%) of a token that people are memeing and speculating on,” he said.
HAY is currently traded at a price of $3.1 million with a total supply of just 95 tokens after Hayden burning 99.99% supply on October 21.
The Uniswap founder further clarified that he is not involved with HayCoin anymore and has burned all the supply he had in wallet. He added that speculating on HAY is “silly” while urging to remove his pfp photo from the token logo.