Hyperliquid's revenue reached $1.31 billion due to increased trading activity and the HYPE token burning mechanism. Over the week, the protocol earned $13.48 million, while the gross collection amounted to $15.11 million. As a result of the burning, 156,580 HYPE tokens worth approximately $12.42 million were removed. The total number of burned tokens has reached 48.70 million, which is about 4.87% of the total HYPE supply.
The increase in liquidity also contributes to Hyperliquid's growth. The liquidity volume in DeFi reached $1.31 billion, increasing by 2.68% over 24 hours, while the liquidity of stablecoins stands at $6.83 billion. Although this pool decreased by 2.41% over seven days, USD Coin (USDC) still controls 98.31% of the liquidity, ensuring market activity. With current USDC reserves of approximately $6.72 billion, the protocol generates about $200 million in annual yield, opening additional sources for HYPE token buybacks.
However, Hyperliquid faces a challenge: revenue growth must outpace HYPE price increases to maintain the pace of token burning. While weekly fees fluctuate between $11 million and $15 million, the rising price of HYPE reduces the number of tokens that can be removed for the collected fees. This creates a gap between the monetary value of the burnings and the actual reduction in supply.
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