Hyperliquid burned $10.15M worth of HYPE tokens in 24 hours, with 49.25M HYPE permanently removed from supply as protocol revenue continues to grow.
DeFi & Yields ·
Hyperliquid removed 112.58K HYPE tokens worth $10.15 million from circulation over 24 hours through a token burn at a $90.20 volume-weighted average price, funded by protocol revenue and fees. The burn brings the cumulative tokens permanently removed from supply to 49.25M HYPE, valued at approximately $4.45B.
The protocol's revenue generation has accelerated, with 24-hour fees reaching $989K, seven-day revenue totaling $9.85M, and 30-day revenue climbing to $52.06M. These figures suggest the burn mechanism is functioning as a fee-recycling tool, converting a portion of platform earnings into deflationary pressure on the token supply.
The cumulative impact of the 49.25M token removal represents a sustained supply reduction, though market-wide factors affecting HYPE adoption, trading volumes, and fee growth remain critical to assessing longer-term token dynamics.