Hyperliquid’s HYPE price is gaining renewed market attention as ETF products attract fresh inflows while the network continues its aggressive token burn activity. HYPE ETFs recorded $224.74K in total net inflows as of October 2, led by Grayscale’s HYPG. At the same time, Hyperliquid reportedly bought and burned 112.58K HYPE in 24 hours, adding to the token’s broader supply-reduction narrative.
What Happened With HYPE?
The latest development centers on Hyperliquid’s continued HYPE buyback and burn activity. According to Onchain Lens, Hyperliquid purchased and permanently removed 112.58K HYPE from circulation over a 24-hour period at a reported $90.20 volume-weighted average price. The tokens were valued at approximately $10.15 million at the time of the transaction.
Source: Onchain Lens’ X Post
The latest burn brings the total amount of HYPE permanently removed from supply to approximately 49.25 million tokens, worth around $4.45 billion based on the reported valuation.
The activity highlights how protocol-generated fees are increasingly connected to HYPE’s token economics and supply dynamics.
Also Read: HYPE ETF Institutional Buying: $4.96M Buy and 49M Burned
Why Is the Market Watching HYPE?
The burn activity comes alongside continued revenue generation across the Hyperliquid ecosystem. Onchain Lens reported estimated 24-hour fees of $989K, while seven-day revenue reached $9.85 million.
Over a 30-day period, the network generated approximately $52.06 million in revenue, highlighting the level of economic activity supporting its buyback mechanism.
ETF flows are providing another source of market interest. Hyperliquid Daily reported $224.74K in combined HYPE ETF net inflows as of October 2.
Grayscale’s HYPG accounted for $158.09K, while 21Shares’ THYP recorded $54.15K and Bitwise’s BHYP attracted $12.49K. The distribution shows that multiple HYPE-linked investment products are seeing fresh demand.
Source: Hyperliquid Daily’s X Post
What Does the HYPE Price Setup Show?
The near-term chart formation of the HYPE price chart has improved after the token’s comeback into the crucial horizontal resistance level. According to cryptocurrency market expert Alpha Crypto Signal, the comeback is an optimistic move for the bulls.
The expert also stated that the previous resistance may turn into a critical support level if the buying pressure continues.
The pattern is still contingent upon the reclaiming zone acting as support. The continued formation above this zone will leave the bullish pattern intact, but if there is a breakout below the zone, the pattern may be invalidated. This makes the reclaiming zone a key level for the HYPE price.
Source: Alpha Crypto Signal’s X Post
As per the Alpha Crypto Signal, the time frame of HYPE looks encouraging post-recovery from the resistance. This is because the rebound above the horizontal range would help bulls become more potent and would facilitate the formation of yet another ascending leg.
However, it should be noted that the bearish outlook of the analyst is only hypothetical since the bullish setup is contingent upon HYPE remaining at the reclaimed level as support. Otherwise, the whole breakout structure would have to be validated again.
What Happens Next?
Future direction for HYPE will possibly hinge on whether the demand for ETFs, earnings from the protocol, and breakout can sustain support for the token all together. Further network revenues will help in more HYPE token buybacks and burns, which will be a positive signal for token scarcity.
Technically, one should be looking at the horizontal resistance level that has been recaptured. Retaining the zone indicates that the current structure is intact, while a breach of the zone means that the recent breakout might require more confirmation. ETF flows will also continue to provide useful information on market demand.
Also Read: HYPE Price Gains Attention as ETF Growth Meets Key Technical Setup
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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