HayCoin, a test coin created by Uniswap founder Hayden Adams, has experienced a dramatic surge in value after Adams decided to burn 99.99% of the token's supply. At the time of writing, HayCoin is trading at $2,538,123, up by more than 273% over the past day, according to data from CoinGecko. Adams revealed his decision in a Friday post on X (formerly Twitter), expressing discomfort with owning "almost the entire supply" of HayCoin. As a result, he burned 99.99% of the token's supply that was in his possession, leading to a significant increase in the price of HayCoin. Over time, some individuals noticed HayCoin and bought it as a novelty or for amusement.
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