How an unsuspecting crypto meme exploded in price beyond bitcoin

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How an unsuspecting crypto meme exploded in price beyond bitcoin
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The price of HayCoin hit more than $4.2 million recently, making each worth more than a bitcoin.

Yes, but:Uniswap CEO Hayden Adams burned them, ironically, to separate himself from what he called the "silly" speculation that had arisen around the 0.01% of the coins that weren't collecting dust in his wallet.Over the years, he said, a few people bought it as a joke, or for the novelty of it.

"Ultimately, I'm uncomfortable owning almost the entire supply of a token that people are memeing and speculating on, so I decided to burn the full amount in my wallet ," Adams said Saturday in the post.Coin prices are a function of supply and demand, and burning tokens effectively wipes them permanently from the market, thus boosting the price of the remaining tokens.HayCoin is mainly just an idea. It's a token spun up by and then denounced by a crypto legend.

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