On October 20th, Hayden Adams, the founder of Uniswap, burned 99.9% of his HayCoin holdings in response to increased trading activity and speculations in the crypto community. The token's value skyrocketed to over $4 million following this move. HayCoin was originally created as a testing mechanism for Uniswap v1's launch and saw only a fraction of its total supply released, with most held in Adams' wallet. However, the surge in trading activity prompted Adams to initiate the burn due to his discomfort with holding such a large portion of the token's supply, with the burnt tokens now valued at around $650 billion. Adams also announced his disassociation from the token and expressed his preference for a new logo. Following the burn, HayCoin's price surged by more than 300%, reaching a value of $4 million.

It's worth noting that despite the burn, over 50% of the remaining HayCoin tokens in circulation are held in a single wallet, with one wallet accounting for around 54.11% of the remaining tokens.