Hyperliquid Burns $1.53 Million in HYPE Tokens in 24 Hours Amid Price Dip
Decentralized exchange Hyperliquid has bought back and burned 21,200 HYPE tokens over the past 24 hours, spending $1.53 million as the cryptocurrency's price declined.
Decentralized exchange Hyperliquid has bought back and burned 21,200 HYPE over the past 24 hours, spending $1.53 million on the purchase at an average price of $72.31, according to Onchain Lens. The latest buyback comes amid the decline in the price of the cryptocurrency, which went down by 3.45% on Nov. 12 to stand at $69.52 at press time.
Token Burn Impact
The on-chain analytics platform also reported that Hyperliquid has permanently removed a total of 50.47 million HYPE from circulation since the token's launch. That represents 5.05% of the max supply of 1 billion HYPE, and at the current price, the burned tokens are worth around $3.51 billion.
Revenue Generation
DeFiLlama data shows that Hyperliquid has earned $1.41 billion for HYPE holders since December 2024. Over the past 30 days, the decentralized exchange earned $68.82 million, with $15.04 million in the past week. Over the last day, the platform collected about $1.46 million in fees, slightly less than the amount spent on the buyback.
Hyperliquid currently earns more in fees than Ethereum, Tron and Base, according to the data. The exchange pays for buybacks in dollars, allowing it to purchase more HYPE with the same amount of money when the token's price decreases.
Assistance Fund Mechanism
Each of these transfers brings between $14 million and $16 million to the fund.
The largest part of the burned tokens, 48.85 million HYPE, was bought back by the Assistance Fund. This fund automatically receives between 97% and 99% of fees from perpetual and spot trading on Hyperliquid. In August 2026, Hyperliquid introduced the AQAv2 upgrade, under which around 90% of the yield generated by USDC reserves now goes to the Assistance Fund.
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