Hyperliquid Burns 11,780 HYPE in 24 Hours as Lifetime Burn Reaches 47.3M Tokens

Hyperliquid generated $743,900 in protocol fees over the past 24 hours, resulting in the burn of 11,780 HYPE tokens valued at approximately $667,900, according to on-chain data.

The latest burn lifted the cumulative number of HYPE tokens permanently removed from circulation to 47.30 million, equivalent to about $2.68 billion at current valuations. 

The total represents 4.73% of HYPE’s maximum supply of 1 billion tokens, underscoring the scale of the protocol’s ongoing supply reduction through its fee-backed burn mechanism.

Source: Onchain Lens