$760K Hype Token Burn Pushes Total Burns to $2.5 Billion
Hyperliquid, a platform that burns $HYPE tokens and routes revenue to its Assistance Fund and holders, has successfully executed another round of token burning. Over the past 24 hours, Hyperliquid burned approximately $760,210 worth of $HYPE, bringing the total all-time burns to 46.19 million tokens valued at $2.50 billion. This represents about 4.62 percent of the maximum supply of 1 billion $HYPE tokens.
The revenue generated from these token burns was distributed among the Assistance Fund and holders, with a total of $777,200 being routed to them. The burn mechanism and revenue share structure have been established as integral components of the Hyperliquid platform.
The price action on the 4-hour chart indicates that $HYPE is currently trading within its Bollinger Bands, with the upper band serving as immediate resistance at $54.49. The EMA50 at $54.5 serves as the first line of support, while the EMA200 remains a longer-term ceiling at $60.16.