World Liberty Financial, the Trump-linked crypto initiative, has kicked off a large-scale token burn in hopes of lifting its struggling coin price, which has been sliding since the project went live earlier this week.
Blockchain data highlighted by Lookonchain revealed that on Wednesday, the team removed 47 million WLFI tokens from circulation by sending them to a burn wallet, effectively cutting them out of the total supply.
WLFI started trading on secondary markets Monday, opening the door for early backers to offload tokens. The asset briefly reached $0.331 before slipping back down; in the past 24 hours alone it lost another 3.8%, now hovering around $0.23.
Token burns are a common strategy in crypto designed to shrink supply and, at least in theory, support prices of the remaining tokens.
Small cut from the circulating supply
According to CoinMarketCap, roughly 24.66 billion WLFI tokens — about a quarter of the project’s initial 100 billion supply — have already been unlocked. The 47 million burned this week amounts to just 0.19% of circulating tokens.
Etherscan records confirm that the tokens were destroyed on Sept. 2, reducing the total supply to just under 99.95 billion.
A day earlier, World Liberty suggested introducing a recurring buyback-and-burn program funded by fees collected from its liquidity pools. The proposal claims this would reward committed long-term holders by boosting their relative share, while cutting out those less invested in the project’s future.
WLFI is still down more than 31% from its launch-day high, with short sellers adding pressure. The community, however, seems supportive of the burn initiative — most of the 133 public comments under the proposal favor the move, though a formal vote hasn’t been held yet.
Industry voices call for maturity
Kevin Rusher, founder of decentralized lending protocol RAAC, commented that the frenzy around WLFI shows crypto markets remain immature. He believes sustainability will come not from “celebrity-driven tokens or quick speculation,” but from real institutional adoption.
He warned that hype-driven trading continues to erode trust:
“This kind of behavior damages confidence in crypto, when what the industry really needs is stability and long-term credibility.”
Meanwhile, Galxe marketing head Mangirdas Ptašinskas noted that WLFI’s launch briefly sent Ethereum gas fees soaring. He said the event should remind developers how far the ecosystem still has to go.
“When a simple trading surge can spike fees on a $200 transfer to $50, it’s a sign that we’re not yet ready for mainstream adoption — though that adoption is clearly coming,” he added.
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