Hyperliquid burned 19,750 HYPE worth $1.13 million over the past 24 hours, while the protocol generated $1.6 million in fees during the same period, according to Onchain Lens. The latest burn brings Hyperliquid’s cumulative HYPE destroyed to 47.67 million tokens valued at $2.75 billion, equal to 4.77% of the token’s 1 billion maximum supply. Token burns (permanently removing tokens from circulation) are often watched by traders as a supply-reduction mechanism that can tighten available float if network activity remains strong.