Tron’s Justin Sun has recently announced a significant development regarding the SUN token, revealing that 100% of the token revenue will be allocated towards token burn. This news has sparked positive sentiments within the community, with many holders anticipating a price rally for the native token of Sun Pump.
In a post on social media platform X (formerly Twitter), Justin Sun emphasized the importance of prioritizing token burn for SUN’s revenue. He stated that the SUN token burn would be announced soon, with all revenues going towards this purpose. Sun highlighted that this decision aligns with the core value of the ecosystem, emphasizing that “what happens in crypto stays in crypto.”
Token burns have been known to drive up prices as a platform’s popularity grows, and the announcement of this move has been met with praise from crypto users amidst the current market sentiment. Justin Sun has also maintained a positive stance on the token offering, expressing his willingness to buy out the assets of those who spread rumors about the asset.
In a further development, Sun announced an increase in the energy cap to boost TRX staking transactions following the SunPump frenzy. The SUN token price has seen significant momentum in recent weeks, driven by positive market sentiments and user frenzy. With revenues exceeding $4 million and the anticipated buyback yet to begin, SUN is currently trading at $0.0362, marking an 8% increase in the last 24 hours following Sun’s announcement.
This price surge has helped to offset weekly losses in the wider market, which experienced a correction as Bitcoin slipped under $59,000. The community is now eagerly anticipating the effects of the token burn on SUN’s price, with many speculating that a price rally may be on the horizon.
Overall, Justin Sun’s decision to allocate 100% of SUN revenue towards token burn has generated excitement within the community and could potentially lead to a positive price trend for the SUN token in the near future.