Hyperliquid burns $6.75 million in HYPE as price rebounds toward $98 resistance

Hyperliquid has intensified its token burn activity, with $6.75 million worth of HYPE permanently removed from circulation within a 24-hour period. The large-scale burn, reported by HypedLaunches, amounted to 72,530 tokens withdrawn from the total supply. The recent wave of burns followed a surge in trading activity, with HYPE/USDC pairs recording a daily trading volume of $2.98 billion. Increased user activity is directly connected to the platform’s unique economic model, which links token buybacks and burning with trading fees collected from the exchange.

Source: CoinTurk News