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HYPE Hyperliquid bought back and destroyed 9,730 HYPE units, with a lifetime destruction of 48.42 million units.
HYPE's current trading price is close to US$86.85, the key resistance level is in the range of US$88.39 to US$90, and the short-term support level is US$83.59 at the 50-day moving average. Trader "watershedpath" still holds leveraged HYPE positions of more than US$30 million after accumulating approximately US$62.7 million in gains.
In the past 24 hours, Hyperliquid destroyed $829,500 worth of HYPE tokens, while Arkham tracking data showed the transaction generated $62.7 million in revenue. Onchain Lens reported that 9,730 HYPEs were purchased and destroyed at an average price of US$85.27, raising the total number of HYPEs destroyed over life to 48.42 million. Meanwhile, trader "watershedpath" continues to maintain its leveraged positions worth more than $30 million.
Hyperliquid destroys 9,730 HYPE tokens Details
According to Onchain Lens, Hyperliquid purchased 9,730 HYPE tokens in the past 24 hours and immediately destroyed them. The average purchase price was US$85.27, and the transaction total was approximately US$829,500. This destruction brought the total number of HYPE removed through this process to 48.42 million.
Based on current market value, the value of these destroyed tokens is approximately US$4.14 billion. This destruction amount accounted for 4.84% of HYPE's maximum supply. Since the purchase occurred around $85.27, the price is very close to the current market price of the token.
Traders lock in US$62.7 million in HYPE gains
The Arkham report showed that trader "watershedpath" achieved a gain of $62.7 million after holding a long position in HYPE for more than a year. However, according to Arkham, the trader did not close the position. Instead, the data showed that the trader continued to withdraw margin from the position.
Currently, the account holds a risk exposure of approximately US$30 million under 4 times leverage. This position comes against the backdrop of HYPE's sharp rise since March. The strong price trend also sent the token to recent chart highs.
HYPE tests US$88 resistance after rebound
The chart shows that HYPE traded mainly in the US$30 to US$45 range from March to May, followed by a sharp rise. Token prices broke through the $70 mark, but experienced corrections in June and July. It is worth noting that HYPE accelerated again in late August.
The token rose from around $58 to $60 to above $80 on August 20, reaching a high of about $88.386. HYPE is currently trading close to $86.852, so $88 to $90 has become an immediate resistance area. The 50-day moving average (MA50) is at $83.59, while the 200-day moving average (MA200) is close to $69.60.
Trading volume also expanded, reaching approximately $878.14 million in the latest wave of gains. At the same time, HYPE prices are still above the two moving averages. If we can break through US$88.386, the next target will be US$90; but if we fall below US$83.59, we need to pay attention to the support in the US$80 to 78 range.
