Hyperliquid's fees buy HYPE and burn it daily. That's the whole machine — and I think it's losing the fight.
Here's the chain: 97–99% of trading fees flow into the Assistance Fund, and the fund buys HYPE and burns it. That machine ran on $68.8 million of protocol revenue in the last 30 days. Yesterday it bought back 21,290 HYPE for about $1.53 million. 50.5 million burned so far — just over 5% of supply.
Yet HYPE is down 28% from its $97 peak, near $73 after defending the $69.53 low. The stress number is the gap: ~$1.5 million bought a day, while HYPE shed about $1.85 billion in market value last week. I'm watching $70.95 — a daily close under it hands the tape to $68.50. Reclaim $75.94 and the story gets a tailwind at last.
Three prints decide this: $70.95 holds, $75.94 breaks, or $69.53 gives way. Which one prints first — A, B, or C?
NFA, DYOR.
$HYPE $BTC #CryptoMarkets #Hyperliquid #Buybacks #Perps #HYPE
Here's the chain: 97–99% of trading fees flow into the Assistance Fund, and the fund buys HYPE and burns it. That machine ran on $68.8 million of protocol revenue in the last 30 days. Yesterday it bought back 21,290 HYPE for about $1.53 million. 50.5 million burned so far — just over 5% of supply.
Yet HYPE is down 28% from its $97 peak, near $73 after defending the $69.53 low. The stress number is the gap: ~$1.5 million bought a day, while HYPE shed about $1.85 billion in market value last week. I'm watching $70.95 — a daily close under it hands the tape to $68.50. Reclaim $75.94 and the story gets a tailwind at last.
Three prints decide this: $70.95 holds, $75.94 breaks, or $69.53 gives way. Which one prints first — A, B, or C?
NFA, DYOR.
$HYPE $BTC #CryptoMarkets #Hyperliquid #Buybacks #Perps #HYPE
