Hyperliquid repurchased and burned $1.75 million worth of HYPE over the past 24 hours, bringing the total burned to 4.97% of the maximum supply. According to Onchain Lens, on October 21, the decentralized perpetuals exchange Hyperliquid repurchased and burned 21,790 HYPE tokens on the secondary market at an average price of $80.27, totaling $1.75 million in value burned.
Data shows that the platform's estimated fee revenue over the past 24 hours was $1.65 million, with burn funds sourced from protocol fee income. To date, a total of 496.9 million HYPE tokens have been burned, equivalent to approximately $4.05 billion, representing 4.97% of the maximum supply of 1 billion tokens.
Hyperliquid burns $1.75M HYPE in 24 hours, total burned reaches 4.97% of max supply
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Summary
Hyperliquid executed a $1.75M HYPE burn within 24 hours using protocol fee revenue. The burn included 21,790 tokens, with $1.65M in fees generated on the platform. The total burned HYPE now stands at 49.69 million, or 4.97% of the 1 billion maximum supply. This move aligns with the latest protocol update, which continues to drive crypto news and on-chain activity.
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