CryptoMedium•12 November 2026•
1 min read
Hyperliquid Burns $1.53M in HYPE Tokens to Stabilize Prices
Key Facts
1Decentralized exchange Hyperliquid bought back and burned 21,200 HYPE tokens over the past 24 hours.
2The burn operation cost $1.53 million at an average price of $72.31 per token.
Decentralized exchange Hyperliquid bought back and burned 21,200 HYPE tokens over the past 24 hours. According to Onchain Lens, the burn operation cost approximately $1.53 million at an average price of $72.31 per token as part of the platform's supply management strategy.
The buyback and burn mechanism is intended to reduce the circulating supply and potentially stabilize the token price following recent market volatility. Reports from u.today indicate that Hyperliquid has permanently removed a total of 50.47 million HYPE tokens from circulation since the token's launch, utilizing trading fees and its Assistance Fund to execute these market moves.