Hyperliquid burned $1.28 million worth of HYPE tokens over the past 24 hours, bringing total lifetime burns to $2.68 billion, equivalent to 47.53 million HYPE. The token’s circulating turnover has dropped to 2.9%, indicating that holders are keeping their positions rather than rotating supply back into the market. The protocol generated $1.65 million in fees during the same period, illustrating sustained activity that continues to remove tokens from circulation. On the technical side, the Stochastic RSI is in overbought territory at 86.21 and the price is trading below the 20-period moving average at $56.65, suggesting a probable short-term bearish continuation toward the liquidity cluster at $54.22 before any bullish recovery toward $60.
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