Hyperliquid Burns 49.87M HYPE Tokens, Worth $3.89B, as Token Surges
Hyperliquid's latest token burn represents 5% of the maximum supply, highlighting its fee-funded buyback mechanism.
Hyperliquid's latest token burn represents 5% of the maximum supply, highlighting its fee-funded buyback mechanism. Hyperliquid (HYPE) is trading at ₹8,457 ($88.74), up 1.3% since this brief published. This is an original Token Times brief based on reporting by TronWeekly, with live market data added, as of Thu, 29 Oct 2026 12:45:01 UTC.
The significant token burn underscores Hyperliquid's commitment to reducing supply and potentially boosting token value, while the fee-funded mechanism ensures ongoing buybacks.
- Hyperliquid burned 49.87M HYPE tokens, worth $3.89B.
- The burn represents 5% of HYPE's maximum supply.
- HYPE token price rose 7.8% in the past 24 hours to $87.63.
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- Hyperliquid Burns 49.87M HYPE Tokens, Worth $3.89B, as Token Surges — this brief
Hyperliquid has executed a significant token burn, removing 49.87 million HYPE tokens from circulation, equivalent to approximately 5% of the token's maximum supply. This move is part of the protocol's fee-funded buyback mechanism, which aims to reduce supply and potentially increase the token's value.
The burn comes as the Hyperliquid token (HYPE) has seen a notable price increase, rising 7.8% in the past 24 hours to $87.63, with a 7-day gain of 11.83%. The token's market cap now stands at $20.98 billion, according to live market data.
While the token burn is a significant development for Hyperliquid, the broader crypto market remains subdued, with the total market cap at $2.75 trillion and 
Bitcoin down 1.32% in the past 24 hours. The Fear & Greed Index is at 51, indicating a neutral market sentiment.
In contrast, 
Shiba Inu's derivatives market is showing signs of cooling, with open interest well below the $50 million level that traders typically consider a sign of healthy activity, according to U.Today.
Hyperliquid's Total Value Locked (TVL) is currently $1.79 billion, representing a 0.8% increase over the past seven days, as reported by DeFiLlama. This indicates a stable, albeit modest, growth in the platform's liquidity.
Since this brief published about 1 hour ago, Hyperliquid (HYPE) has moved from ₹8,350.80$87.63 to ₹8,456.58$88.74 — +1.27%.
The chart plots HYPE's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 HYPE ≈ ₹9,184.59 (about $88.74), up 10.3% over 24 hours. The rupee itself trades about 8.6% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the assets in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · October 29, 2026.
Token Times reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Hyperliquid Burns 49.87M HYPE Tokens, Worth $3.89B, as Token — questions & answers
What is the significance of the HYPE token burn?
The token burn reduces the circulating supply, which could increase scarcity and potentially boost the token's value.
How does the fee-funded buyback mechanism work?
The mechanism uses fees generated by the protocol to buy back and burn tokens, creating a continuous process of supply reduction.
What is the current market context for Hyperliquid?
The token has surged 7.8% in 24 hours to $87.63, while the broader market is down and Bitcoin has fallen 1.32%.
How much is 1 Hyperliquid worth in rupee today?
About ₹9,184.59 at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $88.74. The rupee price moves with both HYPE's US-dollar price and the USDT/INR rate; use our Hyperliquid in rupee page for any amount.
Has Hyperliquid's price moved since this brief was published?
HYPE is up 1.27% since this brief first published — trading at ₹8,457 ($88.74) now versus ₹8,351 ($87.63) at publication. Token Times re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from TronWeekly. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.