Hyperliquid’s $10.15M token burn sent HYPE to $93 – Here’s what’s next
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Hyperliquid carried out a $10.15 million HYPE buyback-and-burn and later moved 3.75 million HYPE, worth about $331.4 million, into an OTC distribution across five buyers. In the same period, 1.25 million HYPE was sent back to staking, and HYPE traded near $87 after the transfers. Hyperliquid protocol revenue also topped $1 billion, with most protocol fees directed to HYPE buybacks, and total HYPE burns passed 41 million.
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What it means
HYPE holders and traders see a larger amount of tokens moving through buybacks, burns, and OTC distribution than before, with 1.25 million tokens later returning to staking after the 3.75 million-token transfer. The market also noticed HYPE near $87 after the distribution, so the next session starts with those transfers already reflected in the token’s setup.
Market reaction i
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