Hyperliquid: Burns 7.53K HYPE on $537K Fees

Hyperliquid generated $537.4K in fees and burned 7.53K HYPE worth $444.69K over the last day, according to on-chain data. All-time burns now stand at 47.28M HYPE valued at $2.79B, or 4.73% of the 1B maximum supply, underscoring the exchange's ongoing deflationary tokenomics built around perpetual trading volume.

Weekend burns remain lighter than weekday levels, consistent with lower trading activity across the platform's 300+ markets. Price action on the 4-hour chart shows HYPE at $59.19 testing the upper Bollinger Band resistance at $59.51 while RSI sits neutral at 53.81. The token trades below both EMA50 support at $59.78 and EMA200 at $62.86, preserving the bearish structure even as the MACD registers a golden cross at -0.26.