Hyperliquid Burns $1.75M in HYPE as HYPE Price Targets $94 Rally

Hyperliquid burned around $1.75 million worth of HYPE tokens within 24 hours, maintaining its ongoing process of cutting the total supply through buybacks funded by the platform’s earnings. Based on reports from Onchain Lens, Hyperliquid bought and burned 21,790 HYPE tokens for an average cost of $80.27. On the other hand, crypto expert Crypto Warrior spotted signs of a recovery for the HYPE price after the recent sell-off, heading towards $94. Hyperliquid bought and burned 21,790 HYPE tokens within the reported 24 hours at the average cost of $80.27 per HYPE. Thus, this is about $1.75 million worth of tokens that were burned out of circulation. This new burn brings the total reported number of lifetime token burns to 49.69 million HYPE, worth around $4.05 billion.

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