- Hyperliquid bought and burned 9,730 HYPE worth $829,500, lifting lifetime burns to 48.42 million tokens.
- HYPE trades near $86.85, with $88.39-$90 as key resistance and $83.59 as near-term support from the 50-day average.
- Trader “watershedpath” holds over $30 million in leveraged HYPE exposure after accumulating a reported $62.7 million gain.
Hyperliquid has burned $829,500 worth of HYPE in 24 hours as the token trades near $86.85, while Arkham tracks a $62.7 million trader gain. Onchain Lens reported 9,730 HYPE bought and burned at an average $85.27, lifting lifetime burns to 48.42 million HYPE. Meanwhile, trader “watershedpath” remains in a leveraged position worth over $30 million.
Hyperliquid Burns 9,730 HYPE Tokens
According to Onchain Lens, Hyperliquid purchased and burned 9.73K HYPE during the past 24 hours. The average purchase price stood at $85.27, putting the transaction value near $829.5K. The latest burn adds to 48.42 million HYPE removed through the same process over time.
Onchain Lens valued those tokens at about $4.14 billion using the current value. The burned amount represents 4.84% of HYPE’s maximum supply. Because the latest purchase occurred near $85.27, it came close to the token’s current market price.
Trader Keeps $62.7 Million HYPE Gain
Arkham reported that trader “watershedpath” has gained $62.7 million after holding a HYPE long position for almost one year. However, the trader has not closed the position, according to Arkham. Instead, Arkham said the trader continued withdrawing margin from the position.
The account currently carries about $30 million in exposure at 4x leverage. The reported position comes as HYPE has climbed sharply since March. That price movement has also placed the token near its latest chart high.
HYPE Tests $88 Resistance After Rally
The chart shows HYPE trading around $30-$45 between March and May before a sharp move higher. The token then reached above $70, followed by pullbacks through June and July. Notably, HYPE accelerated again in late August.
The token rose from roughly $58-$60 on Aug. 20 to above $80 before reaching about $88.386. HYPE now trades near $86.852, leaving $88-$90 as the immediate resistance area. The MA50 is at $83.59, while the MA200 stands near $69.60.
Trading volume has also expanded, reaching about $878.14 million during the recent advance. Meanwhile, HYPE remains above both moving averages. A move above $88.386 would put $90 next on the chart. However, losing $83.59 would bring $80-$78 into focus.
