On-chain data cited by Onchain Lens showed Hyperliquid burned about $1.07 million worth of HYPE over 24 hours while generating $1.45 million in fees, taking cumulative burns to 47.62 million HYPE worth about $2.63 billion, or 4.76% of the token's 1 billion maximum supply. Separately, a whale deposited 60,000 HYPE into Hyperliquid and sold 31,560 HYPE for $1.77 million. Two sell-side TWAP orders remained active, including a 40,000 HYPE order worth about $2.1 million with roughly 15 hours left. The same wallet also transferred about 1.67 million USDC to Coinbase, indicating fund flows tied to the position were still underway.