Hyperliquid is drawing attention after large HYPE holders unstaked millions of tokens, including one wallet that withdrew 1.02 million HYPE and another that transferred 1.89 million HYPE worth about $105.9 million to institutional brokers, a move often associated with over-the-counter sales. Despite the whale activity, the protocol generated $1.18 million in daily fees and burned 18,180 HYPE tokens, helping lift total revenue above $1.21 billion while removing 47.5 million HYPE from circulation.
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