Cumulative HYPE burns reached 46.1 million tokens worth $2.54 billion, or 4.61% of the token’s 1 billion maximum supply, according to Onchain Lens.
Hyperliquid generated $2.07 million in fees over the past day and burned 21,100 HYPE worth $1.16 million. The latest burn adds to cumulative HYPE burns of 46.1 million tokens valued at $2.54 billion, which represents 4.61% of the token’s 1 billion maximum supply. Token burns reduce circulating or potential supply by permanently removing coins from the market, a mechanism traders often watch for its possible impact on scarcity and valuation. The figures were reported by Onchain Lens.