TLDR
- WLFI burned 47 million tokens to reduce supply and support price recovery efforts
- Token dropped 36% from $0.331 launch high to current levels around $0.23
- World Liberty Financial proposed buyback program using protocol fees for future burns
- Traders flagged potential insider activity and manipulation concerns during launch week
- Andrew Tate reopened long position after $67,500 liquidation showing continued confidence
World Liberty Financial executed a 47 million token burn this week as its WLFI cryptocurrency struggles to recover from launch day losses. The Trump-backed project sent tokens to a burn wallet on September 2nd.
WLFI started trading publicly on Monday with early investors selling to retail buyers. The token reached a peak of $0.331 before sliding to current levels around 23 cents.
The burn removes 0.19% of circulating supply from the market. About 24.66 billion tokens are currently unlocked from the original 100 billion total supply.
Token burns permanently destroy coins to reduce available supply. This strategy aims to increase value for remaining holders through scarcity.
Short sellers contributed to WLFI’s price decline after launch. The token fell roughly 36% from its high to a low of $0.210 before stabilizing.
Buyback Program Details
World Liberty Financial proposed a formal buyback and burn program on Tuesday. The plan uses fees from Ethereum, BNB Chain, and Solana liquidity pools to purchase WLFI tokens.
The project says this approach increases ownership percentages for committed holders. It also removes tokens from circulation held by short-term traders.
Early feedback shows 133 respondents supporting the proposal in comments. An official governance vote is pending.
The buyback program would create ongoing demand for WLFI tokens. Fees generated from platform usage would fund regular token purchases and burns.
Trading Activity and Market Response
One trader moved $3 million USDC to Hyperliquid specifically to short WLFI. The large position was tracked by onchain analytics and shared on social media.
Some users flagged potential insider activity around the launch. Wallet analysis suggested certain holders sold tokens before the broader market decline.
Critics targeted project associates on social platforms. Multiple users described WLFI as speculative and questioned its long-term viability.
Andrew Tate lost $67,500 when his initial long position was liquidated on Tuesday. He immediately opened another long position showing continued confidence.
Blockchain data from Lookonchain confirmed Tate’s new trade. His actions suggest some traders still expect price recovery.
The token launch drove Ethereum gas fees higher during peak activity. Transaction costs reached $50 for typical $200 transfers.
