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Hyperliquid burns $1.28M HYPE tokens amid strong fee generation, signaling tightening supply and potential bullish trend.

Protocol Fundamentals
08 Aug 2026
AMBCrypto
View Source
Bullish
Hyperliquid burns $1.28M HYPE tokens amid strong fee generation, signaling tightening supply and potential bullish trend.

Hyperliquid has burned $1.28 million worth of HYPE tokens in the past 24 hours after generating $1.65 million in fees, pushing lifetime token burns to 47.53 million HYPE ($2.68 billion). This deflationary activity is reducing circulating supply and turnover, indicating holders are retaining tokens and potentially setting up a bullish trend. Despite a recent short-term price correction and increased volatility, the long-term outlook remains positive with expectations of a price rebound if demand holds around $54. The token may resume its upward trend towards $60 after clearing liquidity clusters and unfilled orders in the $52-$55 range.

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