In accordance with Bijiie, Hyperliquid has burned 37.51 million HYPE tokens valued at over $91.2 million in an effort to stabilize the price. The move, approved via a weighted governance vote with 85% support, reduces the total circulating supply by 11-13%. HYPE is currently trading at $23.94, down 1.39% on the day and 11.9% on the week, amid ongoing market pressure. The Hyper Foundation has maintained a consistent buyback and burn strategy, averaging $1.5 million per day in token repurchases since December 2024. The token burn aims to increase scarcity and absorb selling pressure, potentially supporting a price rebound toward $30 and the $40 target.
Hyperliquid Burns $91.2M in HYPE Tokens Amid Market Downturn
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Summary
Hyperliquid executed a $91.2 million HYPE token burn via on-chain data, removing 37.51 million tokens and reducing supply by 11-13%. The on-chain analysis shows the move was backed by 85% governance support. HYPE trades at $23.94, down 1.39% daily. The Hyper Foundation has averaged $1.5 million in daily buybacks since December 2024. The burn aims to boost scarcity and support a rebound toward $30.
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