Hyperliquid Token Burn $1B and Ripple Prime Access Expand Institutional Trading

Hyperliquid announced a governance-approved token burn of about $1B worth of its native tokens, permanently reducing circulating supply. The burn is reported as already completed on-chain, and the project said trading continues without interruption. In parallel, Hyperliquid integrated with Ripple Prime to open a new institutional capital access route. The integration is designed to let approved users connect through existing financial infrastructure, while keeping the platform’s core trading system intact. Hyperliquid did not name specific partners, but stated onboarding is underway. Hyperliquid also reported steady usage metrics, citing daily fees of roughly $1.4M generated from user trading activity across its markets, including both retail and larger traders. On the product side, the exchange expanded offerings into non-crypto-linked derivatives, including perpetual contracts tied to traditional indices (example: an S&P 500 perpetual using licensed data). Volume is reported near $100M per day across markets. Net takeaway for traders: the Hyperliquid token burn supports a supply-reduction narrative, while Ripple Prime access could improve liquidity and broaden institutional participation. However, the project did not provide forward-looking forecasts tied to these changes.