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

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.