Hyperliquid burns nearly 5% of HYPE supply as lifetime revenue hits $1.38 billion
AI summary
Hyperliquid has burned nearly 5% of the total HYPE token supply, a deflationary move tied to the protocol's revenue model. The decentralized exchange says lifetime protocol revenue has reached $1.38 billion, which underpins the buyback-and-burn mechanism. Traders care because a smaller circulating supply can tighten HYPE's float and amplify price moves if trading volumes hold up.
