{"id":623051,"date":"2026-08-08T03:00:20","date_gmt":"2026-08-08T07:00:20","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=623051"},"modified":"2026-08-08T01:03:00","modified_gmt":"2026-08-08T05:03:00","slug":"hyperliquid-burns-1-28m-hype-as-price-corrects-is-60-next","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/hyperliquid-burns-1-28m-hype-as-price-corrects-is-60-next\/","title":{"rendered":"Hyperliquid burns $1.28M HYPE as price corrects \u2013 Is $60 next?"},"content":{"rendered":"

Hyperliquid’s [HYPE] deflationary model is gathering pace despite HYPE extending its two-day correction.<\/span><\/p>\n

According to the recent reports, the protocol burned $1.28 million worth of HYPE over the past 24 hours after generating $1.65 million in fees.<\/span><\/p>\n

Lifetime token burns have now reached 47.53 million HYPE, equivalent to $2.68 billion, highlighting stronger long-term holding and fewer tokens changing hands.<\/span><\/p>\n

The combination points to a steadily tightening supply backdrop , which could in turn translate into bullish signals in the long run.<\/span><\/p>\n

Has the burn rate affected the network supply?<\/b><\/h2>\n

The impact on the burned tokens is already visible on the market.\u00a0 According to the recent data, Hyperliquid\u2019s circulating turnover has fallen to a weekly average of 2.9%.<\/span><\/p>\n

The latest burn is turning out to be revenue-driven, meaning higher protocol activity continues removing HYPE from circulation.<\/span><\/p>\n

At the same time, the sharp decline in circulating turnover suggests holders are keeping their positions instead of rotating supply back into the market.<\/span><\/p>\n

\"HYPE<\/a>
Source: Token Terminal<\/figcaption><\/figure>\n

Reduced token availability has historically supported bullish trends when demand remains stable. The same turn of events could be developing for HYPE. <\/span>Moreover, given that the derivatives and supply metrics remain supportive despite the recent price weakness.<\/span><\/p>\n

On contrary, the token trading volume have flattened at around $230 million after a week of steady gains. This could be the result of many traders playing averse as they wait for a potential rejection at around $54 before they chip in to join the trend.<\/p>\n

\"HYPE<\/a>
Source: Santiment<\/figcaption><\/figure>\n

Can bulls reverse the correction?<\/b><\/h2>\n

On the daily chart, the token\u2019s bollinger bands have widened indicating the current increased market volatility.\u00a0<\/span><\/p>\n

However, the token is still trading below the key 20 SMA and its Stochastic RSI is currently at an overbought region at $86.21, increasing the likelihood of further short-term bearish run.\u00a0<\/span><\/p>\n

Since retesting the 20 SMA at around $56.65 yesterday, the token has recorded consecutive days of bearish run.\u00a0<\/span><\/p>\n

\"HYPE<\/a>
Source: TradingView<\/figcaption><\/figure>\n

However, with the overall long-term structure still leaning bullish and the token supply reducing, the token could be on a short correction to clear the liquidity cluster worth over $1.53 million at $54.22 before resuming its long-term bullish structure.<\/span><\/p>\n

Notably, the price level lies within the market gap between $52 and $55 on the daily chart, a zone that the token price action is likely to retest to collect unfilled orders before resuming it long-term bullish trend.<\/p>\n

If HYPE bulls defend the demand zone, a continuation of the bullish rally back to $60 will be more than likely to materialize.<\/p>\n

\"HYPE<\/a>
Source: CoinGlass<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

Hyperliquid burned $1.28 million worth of HYPE over the past 24 hours, taking lifetime burns to $2.68 billion. With circulating turnover falling to 2.9%, traders are watching whether shrinking supply can fuel a price reversal.<\/p>\n","protected":false},"author":93,"featured_media":623069,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,4,20],"tags":[],"class_list":["post-623051","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-social","category-trading-view"],"acf":[],"yoast_head":"\nHyperliquid burns $1.28M HYPE as price corrects \u2013 Is $60 next? - AMBCrypto<\/title>\n<meta name=\"description\" content=\"HYPE shows promise with a $1.28 million token burn and a reduced supply, strengthening its long-term bullish structure.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/hyperliquid-burns-1-28m-hype-as-price-corrects-is-60-next\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hyperliquid burns $1.28M HYPE as price corrects \u2013 Is $60 next? - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"Hyperliquid burned $1.28 million worth of HYPE over the past 24 hours, taking lifetime burns to $2.68 billion. 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