$HYPE up 90.7U, intraday pullback 2.4%.
On the 19th, it once surged to 94.48U and hit a new high. With the CFTC license opening the on-chain perpetual trading channel, the compliance narrative for HYPE has been further heating up.
More importantly, 99% of perpetual fees are used for buyback and burn: about 26,000 tokens burned per day, with the cumulative burn share reaching 4.88%.
Bullish case: the buyback-and-burn of fees is a real, value-capturing occurrence.
That said, after a short-term spike higher, some profit-taking orders are still weighing on the price above the moving averages. Next, we should focus on the strength of the follow-through after the pullback.
Strong is strong—just don’t forget to control your position. #hype
On the 19th, it once surged to 94.48U and hit a new high. With the CFTC license opening the on-chain perpetual trading channel, the compliance narrative for HYPE has been further heating up.
More importantly, 99% of perpetual fees are used for buyback and burn: about 26,000 tokens burned per day, with the cumulative burn share reaching 4.88%.
Bullish case: the buyback-and-burn of fees is a real, value-capturing occurrence.
That said, after a short-term spike higher, some profit-taking orders are still weighing on the price above the moving averages. Next, we should focus on the strength of the follow-through after the pullback.
Strong is strong—just don’t forget to control your position. #hype