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Justin Sun, the creator of the Tron blockchain and a cryptocurrency billionaire, seeks to make a collaboration with Australian rapper Iggy Azalea. The latter is associated with the Mother Iggy meme coin, ranking 594th on the CoinMarketCap list. Currently, it is trading at $0.0349.
They are currently discussing their potential collaboration on the X social media platform.
Iggy Azalea and Justin Sun making crypto plans
Iggy Azalea is the pseudonym of the Australian-born rapper, songwriter, and model, Amethyst Amelia Kelly, who became famous after releasing two songs on YouTube: “Pussy” and “Two Times.” She received public recognition for them after moving from Australia to the USA.
Let's do something together! https://t.co/XZ1zpf5n9q
— H.E. Justin Sun🌞孙宇晨(hiring) (@justinsuntron) September 4, 2024
Iggy Azalea launched a meme coin named after herself – Mother Iggy ($Mother). Earlier today, X user @bull_bnb, with nearly half a million followers and invested in Mother Iggy, suggested that Azalea and Justin Sun should start collaborating on some sort of cryptocurrency project.
The rapper responded: “Any ideas Justin?” A reply from Justin Sun came quickly, saying: “Let's do something together!”
So far, several U.S. rappers are known for launching their own NFT collections or turning their albums into non-fungible tokens. Perhaps Sun and Azalea will come up with something similar.
Justin Sun burns $8 million in SUN tokens
In another tweet published today, Justin Sun proudly announced that a massive burn of SUN tokens, cumulatively worth $8 million, has been conducted, and another $4 million worth of SUN burn is coming soon to follow the first one.
The link that leads to a SunSwap page shows that this burn was performed after that staggering amount of SUN tokens was repurchased from the market.
The total burn amount is $8 million completed, with $4 million to go. https://t.co/ZyExPts79H
— H.E. Justin Sun🌞孙宇晨(hiring) (@justinsuntron) September 4, 2024
SUN, named after its founder Justin Sun, obviously, was created and launched four years ago, designed to be a Bitcoin alternative. In 2021, the token’s price witnessed a major crash due to its excessive total supply of 19,900,730,000, with 9,951,640,722 SUN in circulation as of now. After that, Sun shifted his token toward the DeFi sphere.
Currently, SUN ranks 154th on CoinMarketCap with a market value of $275,851,255.
Sun repurchasing and burning SUN tokens is likely an attempt to reduce its supply.