Hyperliquid has burned 49.87 million HYPE tokens, worth about $3.89 billion, reducing the token's maximum supply by nearly 5%. This strategic move aims to increase scarcity, potentially boosting the token's market value and influencing investor sentiment. The burn comes as confidence in Hyperliquid reaching $100 by the end of 2026 has dropped to 23%. Market watchers will observe if this reduction in supply shifts Hyperliquid's market position and affects price movements ahead of year-end.
HYPE trades at Rp1.423.257 on Pluang, down 3.79% as of Oct 29, 2026 11:01 WIB, with a market cap of Rp359,07 trillion and 27% of its total supply circulating. The burn of nearly 5% of HYPE's max supply could impact its market dynamics, complementing the current 59% sell order activity on the platform. This move may influence how investors respond to the token's price and supply changes ahead of year-end.
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