What’s Behind Thrupenny’s TPY Recent Price Surge?

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.

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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.

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Philipp Traugott
Philipp Traugott

Phil Traugott is a staff writer at CaptainAltcoin. As a trained marketing specialist for copywriting and creative campaigns, he has been advising top companies on the following topics: online marketing, SEO and software branding for more than 10 years. The topic of crypto currencies is becoming increasingly important for companies and investors and he found it very alluring and fitting for his skillset which prompted him to pivot his career towards blockchain and cryptocurrencies.