Hyperliquid: Burns $3.17M HYPE as Markets Drop

Hyperliquid executed a $3.17M buyback and burn of 47.7K HYPE at an average price of $66.37 despite the broader market decline, lifting cumulative burns to 50.59M tokens valued at roughly $3.12B and equal to 5.06% of maximum supply while lifetime revenue reached $1.42B.

Price action on the 4h chart shows HYPE at $63.65 testing beneath the lower Bollinger band support at $65.12 with RSI(14) at 28.92 marking oversold conditions and MACD locked in a death cross at -2.09; the EMA50 at $73.32 and EMA200 at $80.05 now function as overhead resistance that must be reclaimed before any sustained recovery, suggesting the protocol's aggressive burn at higher levels may coincide with further near-term downside pressure until volatility exhausts at current support.