World Liberty Financial, backed by the Trump family, has begun burning its WLFI tokens in an attempt to improve market prices following a steep decline.
Overview of the WLFI Project
WLFI is the native token of World Liberty Financial, majority-owned by the Trump family. The token launched at a price of around $0.33–$0.40, but is currently trading at about $0.23.
Token Burn Mechanism and Its Effects
Recently, 47 million WLFI tokens were sent to a burn wallet, representing just 0.19% of the circulating supply. While token burns are a common practice in the crypto industry, many are questioning whether this will have a significant impact on price following the steep decline.
Investor Concerns and the WLFI Market
Despite the burn, WLFI price remains under pressure, with many investors expressing skepticism about celebrity-backed tokens. Kevin Rusher, founder of RAAC, stated that "true longevity will come from institutional adoption, not short-term hype." There are also issues arising from increased gas fees on the Ethereum network due to WLFI's launch.
The WLFI token burn is part of a broader effort to restore confidence after a rocky debut. However, analysts warn that long-term success will depend on real adoption and use cases, not just headline-driven hype.
