Thrupenny is an emerging DeFi ecosystem aiming to transform decentralized finance. It features a smart investment platform, lending, and an in-built DEX for derivatives trading. With strong utility across lending, trading, portfolio management, and more, Thrupenny is positioning itself as a potential leader in the SPACE.
Major Token Burn Announcement Fuels FOMO
On January 18th, the official Thrupenny Protocol Twitter account announced a new large-scale TPY token burn. Per the tweet, over 65 million TPY worth $180 million was removed from circulation. This burn made TPY spike from $1.6 to $2.5, then settled around $2.2.
Token burns decrease circulating supply, theoretically making the remaining tokens more valuable if demand stays constant or increases. For TPY, this burn appears to be catalyzing serious FOMO and bullish momentum.
Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +With major protocol upgrades driving utility and adoption along with deflationary pressures from additional burns ahead, TPY looks poised for continued growth. As the Thrupenny team stated, the accelerating burns are “fueling the journey to #DeFi dominance.”
After the massive token burn, TPY already bounced off its $2 floor. And with the project’s aggressive expansion roadmap, there likely much more upside ahead for the TPY token price.
You may also be interested in:
- Choppy Waters Ahead? Here’s the Risk of a Pre-Halving Bitcoin Selloff
- Solana (SOL) Turns Bullish Across All Timeframes but Analyst Insists This Resistance Must Break First
- BlockDAG Unveils Miners for Profitable Mining as Bitcoin’s Funding Rate Hits 66%, and Litecoin Expects a Rally
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
