- Iggy Azalea and Justin Sun Making Crypto Plans
- Justin Sun Burns $8 Million in SUN Tokens
- History of the SUN Token and its Development
Justin Sun, creator of the Tron blockchain and cryptocurrency billionaire, is planning a collaboration with Australian rapper Iggy Azalea. They are currently discussing possible joint initiatives in the cryptocurrency space on the X platform.
Iggy Azalea and Justin Sun Making Crypto Plans
Iggy Azalea, the pseudonym of rapper, songwriter, and model Amethyst Amelia Kelly, gained fame after releasing the songs 'Pussy' and 'Two Times' on YouTube. Recently, an X user, @bull_bnb, who has nearly half a million followers and invested in $Mother, suggested that Iggy and Justin Sun collaborate on a cryptocurrency project. The rapper responded: 'Any ideas, Justin?' to which Justin Sun quickly replied, 'Let's do something together!' To date, several US rappers have launched their own NFT collections or turned their albums into non-fungible tokens, so Sun and Azalea may take a similar approach.
Justin Sun Burns $8 Million in SUN Tokens
In another tweet published today, Justin Sun proudly announced that a significant burn of SUN tokens had been conducted, worth $8 million, with another $4 million worth of SUN to be burned soon. The link provided leads to a SunSwap page where the completion of this massive SUN token buyback and burn can be verified.
History of the SUN Token and its Development
SUN, named after its founder Justin Sun, was created and launched four years ago to be an alternative to Bitcoin. In 2021, the token’s price witnessed a sharp decline due to its excessive total supply of 19,900,730,000 tokens, with 9,951,640,722 SUN currently in circulation. Following this, Sun shifted his token toward the DeFi sphere. Currently, SUN ranks 154th on CoinMarketCap with a market value of $275,851,255. Sun's repurchasing and burning SUN tokens is likely an attempt to reduce its supply.
The collaborative plans between Justin Sun and Iggy Azalea in the crypto industry may open new prospects for both parties. Simultaneously, Sun's efforts to reduce the supply of SUN tokens could have a positive impact on their value and market stability.
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