Hyperliquid Burns $643K Worth of HYPE Tokens in 24 Hours

Hyperliquid has burned over $643K worth of HYPE tokens in the last 24 hours, with the revenue generated directed towards the Assistance Fund and HYPE holders. According to on-chain data, this brings the total all-time burns for the platform to 46.18M HYPE tokens valued at approximately $2.43B, which is around 4.62% of the maximum supply.

This move underscores Hyperliquid's commitment to its tokenomics execution on its Layer-1 perpetuals exchange. The price action on the 4h chart shows HYPE trading at $52.53 within the Bollinger Bands, with upper resistance at $55.84 and lower support at $50.24.