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Hyperliquid burns 32,770 HYPE tokens as TVL nears $7 billion
Hyperliquid has executed a recent burn of approximately 32,770 HYPE tokens, a transaction valued at roughly $2.65 million with an average purchase price of $81.01. This action contributes to a total lifetime burn of 48.57 million HYPE, which accounts for about 4.86% of the total token supply.
The protocol’s total value locked (TVL) has recently climbed toward $7 billion, up from approximately $6 billion in September. This growth in capital, alongside daily fees reaching several million dollars, provides the economic foundation for the recurring token buyback and burn mechanism.
In a separate development, investment firm Multicoin Capital has identified Hyperliquid as one of its largest holdings following a reassessment of the decentralized perpetuals exchange. The firm cited significant growth in liquidity and developer activity as key factors. Hyperliquid currently maintains an estimated market capitalization between $18 billion and $20 billion.
Entities
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] The HYPE protocol purchased and burned approximately 32,770 HYPE tokens. ambcrypto.com
- [● 2 SOURCES] Total lifetime HYPE token burns have reached 48.57 million tokens. ambcrypto.com
- [○ 1 SOURCE] The reassessment by Multicoin Capital was driven by growth in liquidity and developer activity. cryptobriefing.com
- [○ 1 SOURCE] Multicoin Capital has identified Hyperliquid as one of its largest holdings following a protocol reassessment. cryptobriefing.com
- [○ 1 SOURCE] Hyperliquid has an estimated market capitalization between $18 billion and $20 billion. cryptobriefing.com
- [● 2 SOURCES] Burned tokens represent approximately 4.86% of the total HYPE token supply. ambcrypto.com
- [● 2 SOURCES] The recent HYPE token burn was valued at approximately $2.65 million. ambcrypto.com
- [● 2 SOURCES] Hyperliquid’s total value locked (TVL) has approached $7 billion. ambcrypto.com