7h ago
Hyperliquid HYPE eyes 1 billion token burn as price slides toward key $20 support
Hyperliquid's HYPE token traded below $30 while still posting an intraday gain of over 3% after a proposal to burn 1 billion tokens from its Assistance Fund. The planned burn, which validators will vote on between 21 and 24 December, could tighten supply even as upcoming December unlocks of 10 million tokens threaten additional sell pressure. With price already down about 56% from recent levels and approaching the $20 support area, traders are watching whether changing supply dynamics can stabilize the market.