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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.