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Hyperliquid to Burn $1 Billion Worth of HYPE Tokens Amid Market Doubts

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HYPE
$24.164-4.33%
Hyperliquid is set to burn $1 billion worth of HYPE token in a bid to stabilize its market cap. The token price has fallen to a seven-month low amid growing market doubts. The foundation will lock 37 million HYPE tokens in a burn address to reduce supply and support long-term value. A vote on the aid fund runs from December 17 to 21, with validators deciding on resource allocation. Cantor Fitzgerald recently published a report comparing Hyperliquid’s valuation to high-growth fintech firms.
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