Crypto

Hyperliquid burns $1.53 million in HYPE tokens over 24 hours

Hyperliquid burned $1.53 million in HYPE tokens over 24 hours during a price dip. Trading in Nvidia perpetual futures on the platform reached $2 billion in 24-hour volume.

Illustration: A phone leaning upright shows a plain gold coin on its screen, with silver and gold circuit-pattern tokens scattered around it on a coral backdrop.
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Hyperliquid burned $1.53 million worth of its HYPE token over 24 hours while the token's price dipped. Burning removes tokens from circulation, which reduces how many are in the market.

Trading in Nvidia perpetual futures on Hyperliquid reached $2 billion over 24 hours. Perpetual futures are contracts with no set expiry date, so a position can stay open for as long as a trader keeps it.

Separately, Paragon has tested HYPE-squared power perps, a product built for convex trading on Hyperliquid. The test points to a growing interest in crypto-native exposure to equities.

GuideCrypto Fear and Greed Index today: how fearful or greedy the crypto market is

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