Golden Finance News: According to on-chain analyst Yu Jin’s monitoring, Rune, co-founder of the Sky project, has made another big move in the token market. Last night, Rune continued to invest 2.727 million USDS in repurchasing SKY tokens, demonstrating its firm confidence in the project’s development.
Since the repurchase program was launched on June 4th, Rune’s repurchase actions have attracted much market attention. As of now, it has cumulatively invested 5.057 million USDS and successfully repurchased 60.954 million SKY tokens, with an average repurchase price of 0.083 US dollars. It is worth mentioning that all the repurchased SKY tokens have been transferred to Rune’s staking address and the staking operation has been completed. This move not only reduces the circulation of SKY tokens in the market but also enhances the value support of the tokens.
In the cryptocurrency market, token repurchase is often regarded as an important means for project parties to recognize their own value and stabilize token prices. Rune’s continuous repurchase activities, on the one hand, convey positive signals to the market and boost investor confidence; On the other hand, with the increase in the number of repurchases and the completion of staking operations, it is expected to have an impact on the supply and demand relationship of the SKY token, making its price trend more stable. Market insiders point out that after this repurchase event, the subsequent performance of the SKY token and its impact on the development of the Sky project’s ecosystem deserve further attention from investors.
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