it depends on how much money the speculators have
Let's hope they have a lot. I'm enjoying my percentage stake in Hive increasing due to the stabilizer purchases pushing Hive current supply into deflation.
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Is the stabilizer burning hive?
It sends it to the DAO, which converts it to HBD and stores it in @hive.fund, where it can't be accessed without stakeholders voting it out via a proposal. Essentially locked up. The HIVE that gets converted to HBD this way is deducted from current supply, so the numbers have been going down today (see @demotruk comment elsewhere on this thread).