Growth
Hyperliquid Platform Reduces Token Supply
Decentralized platform Hyperliquid has permanently removed 49.87 million native HYPE tokens from circulation, accounting for almost 5% of its maximum supply of 1 billion units. The combined fiat value of the destroyed assets has reached $3.89 billion at the current market rate. The supply reduction is automatic, with the protocol converting fee revenue into continuous token buybacks from the open market. The platform's historical revenue has surpassed $1.38 billion, and over the past 24 hours, the buyback engine destroyed 19,700 HYPE (about $1.59 million) against daily protocol fees of $1.69 million. The ecosystem's long-term deflationary status depends on whether fee generation can consistently outpace the scheduled vesting for the team and early contributors.