Hyperliquid (HYPE) Price: Whales Buy the Dip as Token Burn Removes 4.99% of Max Supply

TLDR Hyperliquid has burned about 49.87 million HYPE tokens, or 4.99% of its 1 billion maximum supply, worth roughly $3.89 billion. HYPE’s market cap has returned to $20 billion after a rise of about 5% in 24 hours. Kraken’s parent company, Payward, plans a regulated US perpetuals launch on Hyperliquid, pending approval. HYPE broke a month-long descending trendline but faces resistance at $81. Spot HYPE ETFs from Bitwise, Grayscale and 21Shares have had no net inflows since October 6. Hyperliquid (HYPE) has burned close to 5% of its maximum token supply, and the price is testing a key resistance level. The token’s market cap has moved back above $20 billion after a gain of about 5% over the past 24 hours.

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