Hyperliquid Burns $1.53 Million Worth of Its Token in 24 Hours

The Hyperliquid protocol burned $1.53 million worth of Hyperliquid (HYPE) tokens over 24 hours and bought back 21,200 HYPE at an average price of $72.31.

Cumulative burns reached 50.47 million HYPE, valued at about $3.55 billion and equal to 5.05% of supply. The total is up from 49.09 million HYPE in an earlier burn update.

Cumulative revenue totaled $1.41 billion, with $68.82 million generated over the past 30 days.