Hyperliquid’s cumulative revenue has reached $1.31 billion, with $13.48 million generated in the past week. The protocol burned 156,580 HYPE tokens worth approximately $12.42 million, bringing the total tokens removed to 48.70 million, representing 4.87% of the total supply. Stablecoin liquidity stands at $6.83 billion, with USDC accounting for 98.31%, while daily perpetual volume reaches $8.31 billion. The main risk lies in the fact that HYPE’s price appreciation reduces the number of tokens burned per dollar of fees collected, which could weaken the mechanism’s impact on supply reduction despite continued activity.
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