I just saw that HYPE has been moving quite a bit in the market lately. Although in the last 24 hours it dropped a little (-3.83%), the interesting thing is what’s happening behind the scenes with the tokens. It turns out there’s a token burn that’s offsetting a pretty large unlock of $316 million, so the market is processing that.

On the other hand, JUP has performed well over the past week, gaining around 1.96%. What’s helping is that there’s a supply lock in place, so the supply dynamics are more controlled. These movements in supply and demand are what really move prices in the long term, more than daily fluctuations.

If you don’t know exactly what HYPE is, it’s basically the token of Hyperliquid, a platform that has been gaining traction in the DeFi space. The token burn mechanic is a mechanism that many projects use to reduce inflation and maintain the token’s value. In this case, it seems to be working to counteract that massive unlock that just happened.