Hyperliquid Burns 4.99% of HYPE Supply — $3.89B Removed Permanently
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HYPE Token Surges 14% as Hyperliquid Burns Near 50M Tokens
HYPE token rallied sharply on Oct. 29 as tracking data placed Hyperliquid’s cumulative recognized burns near 49.87 million tokens. The advance highlighted interest in the exchange’s fee-funded buyback mechanism. The cryptocurrency climbed above $90 after spending several days around $75–$82. However, technical readings also suggested heightened short-term volatility. Hyperliquid Burns 4.99% of HYPE …
Hyperliquid Burns 49.87M HYPE as Revenue Reaches $1.38B
Hyperliquid has permanently burned 49.87 million HYPE tokens, valued at roughly $3.89 billion at the time of the on-chain snapshot, according to Onchain Lens. The tracker said the amount represented 4.99% of a 1 billion-token maximum supply and reported lifetime protocol revenue of $1.38 billion. The burn highlights how the decentralized exchange is using fee-driven ...
The decentralized exchange Hyperliquid (HYPE) has permanently removed 49.87 million of its tokens from circulation.
Hyperliquid pursues its strategy of reducing the supply of HYPE, financed by trading fees. In total, 4.99% of the maximum offer of its token has now been definitively removed from the circulation. A dynamic that is not enough to support its price. L-article Hyperliquid burned for almost 4 billion dollars of its HYPE tokens appeared first on Cryptoast.
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