Hyperliquid generated approximately $4.1 million in fees over the past 24 hours, an amount equivalent to roughly 57,700 HYPE tokens at the prevailing market valuation. The figure underscores continued revenue generation across the decentralized trading platform and its token buyback mechanism. At the same time, the HYPE price is showing early signs of recovery, with traders focused on a descending trendline flagged by crypto analyst Aman. A breakout followed by a successful retest could reinforce the bullish case and bring the $80 level into focus.

Hyperliquid Revenue Reaches $4.1 Million

According to data shared by Vikingos on X, Hyperliquid produced approximately $4.1 million in fees during the past 24 hours, equivalent to roughly 57,700 HYPE.

The result highlights the platform's capacity to generate meaningful revenue from trading activity. Hyperliquid operates a decentralized exchange centered on perpetual futures and spot trading, and platform activity feeds directly into protocol revenue. Perpetual futures are leveraged derivative contracts without fixed expiry dates, and the fees charged on them flow directly to the protocol, which is part of why daily fee revenue is widely used as a gauge of real trading activity on decentralized exchanges.

The exchange's Assistance Fund mechanism also ties platform revenue to HYPE demand. A portion of protocol fees is allocated to purchasing HYPE on the open market, and the tokens acquired are subsequently sent to a burn wallet, permanently removing them from circulation.

This arrangement connects platform activity to the token's supply dynamics: higher trading activity can support revenue generation, while continued purchases can contribute to shrinking the circulating supply. That said, the estimated 57,700 HYPE equivalent should not automatically be interpreted as the confirmed number of tokens burned over the same 24-hour window.

Buybacks Connect Trading Activity to Token Burns

Hyperliquid's fee generation is particularly relevant because its revenue mechanism creates a direct link between exchange activity and HYPE's token economics. When trading volume rises, the platform can collect additional fees, and the Assistance Fund then deploys its allocated revenue to purchase HYPE, generating market demand for the token.

For HYPE holders, the flow means that periods of elevated trading volume translate into larger allocations for buybacks, while quieter market conditions can slow the pace of accumulation. These purchases can underpin the ecosystem's token economics, although their effect on price depends on broader market conditions, selling pressure, and overall demand.

The latest revenue figure also emphasizes the value of tracking Hyperliquid's trading activity alongside token performance. Strong platform revenue does not guarantee immediate price appreciation, but it provides additional context for evaluating the ecosystem's growth.

HYPE Tests Descending Trendline as Buyers Attempt Recovery

HYPE is attempting to recover as buyers monitor a descending trendline that has capped its upward movement. The broader technical structure remains important because the token still trades below its September all-time high near $97.98. A descending trendline is plotted by connecting a sequence of lower highs, which is why chartists treat a sustained move above it as a sign that downward momentum may be fading.

The immediate resistance is the descending trendline identified by Aman. A decisive move above that barrier could signal that selling pressure is weakening, while a successful retest would add confirmation that former resistance is turning into support, a shift that could strengthen the recovery structure and encourage buyers to enter the market.

On the downside, the $69–$70 region is a key area to watch. A sustained move below that zone could undermine the current recovery attempt and expose HYPE to further selling pressure. Traders are therefore weighing both the potential trendline breakout and the token's ability to hold higher price levels before considering a stronger bullish reversal.

Aman Sees HYPE Rally Toward $80

Crypto analyst Aman believes the HYPE price could be preparing for a relief rally after facing sustained selling pressure. In his analysis, traders have continued shorting HYPE as the token approaches an important descending trendline, and he highlighted that reclaiming previously lost levels could challenge bearish positioning. He shared the outlook in a post on X.

In Aman's view, a breakout above the trendline followed by a successful retest could strengthen the bullish setup, putting $80 in play. The target, however, remains conditional: without a confirmed breakout and sustained buying pressure, the token could continue trading below trendline resistance.

Substantial derivatives activity also means that sudden price movements could trigger additional liquidations, potentially increasing market volatility. In derivatives markets, liquidations occur when leveraged positions are forcibly closed after a price move erodes their collateral, and clusters of forced closures can magnify short-term swings.

What Comes Next for HYPE

The next key development for HYPE will be its reaction around the descending trendline. Traders will likely watch whether buying volume increases during an attempted breakout and whether the token can defend its reclaimed level.

Protocol revenue will also remain an important metric. Continued fee generation could support the Assistance Fund's market purchases, potentially strengthening the relationship between platform activity and HYPE's supply dynamics.

The $80 level represents the next upside objective highlighted by Aman, although reaching it would require stronger bullish momentum and confirmation from the broader market structure.

Disclaimer: This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always do your own research (DYOR). This is not financial advice.

Source: Tron Weekly