AMBCrypto • October 6th 2026, 2:00 AM
Hyperliquid’s $10.15M token burn sent HYPE to $93 – Here’s what’s next
Key Summary
Hyperliquid's recent $10.15 million token burn has sent the HYPE token price soaring to $93, clearing losses made in October. The altcoin's strong market response is attributed to the protocol's expanded revenue sources and interest earned on idle USDC, which was routed to the Assistance Fund. With the price hike, the upside momentum has strengthened, and the altcoin is well-positioned for further gains.
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Key Takeaways
- Hyperliquid's $10.15 million token burn has sent the HYPE token price to $93.
- The altcoin's strong market response is attributed to the protocol's expanded revenue sources and interest earned on idle USDC.
- The protocol's Assistance Fund has received $14.5 million in USDC, which was then routed to the fund.
- The altcoin's upside momentum has strengthened, and it is well-positioned for further gains.
Market & Token Impact
- The token burn has increased the protocol's funds, which will be used for open-market buybacks and burns.
- The HYPE token price has risen by 3.5% on the daily charts, reflecting newfound market interest.
- The altcoin's Relative Strength Index (RSI) and Relative Vigor Index (RVGI) have formed bullish crossovers, indicating that bulls have started to retake the market.
Broader Context & What's Next
- The market is still facing a major challenge, with investors rushing to the Spot market to cash out recent gains.
- The rising exchange inflows present another source of pressure that the market must absorb.
- If momentum holds, the altcoin could clear $94 resistance and target $98, paving the way for a move to $100.
- However, failure to absorb the pressure could cause the attempted upward move to collapse, likely sending HYPE to $91, with $86 as support.