HYPE Token Surges 14% as Hyperliquid Burns Near 50M Tokens

Key Insights HYPE token surged over 14% as Hyperliquid’s cumulative recognized burns reached approximately 49.87 million tokens. The reported burns represent 4.99% of HYPE’s original maximum supply, with an estimated value of $3.89 billion. Hourly RSI readings reportedly approached 95 as HYPE broke through its earlier $92.15 resistance level. HYPE token rallied sharply on Oct. 29 as tracking data placed Hyperliquid’s cumulative recognized burns near 49.87 million tokens. The advance highlighted interest in the exchange’s fee-funded buyback mechanism. The cryptocurrency climbed above $90 after spending several days around $75–$82. However, technical readings also suggested heightened short-term volatility.