Hyperliquid Protocol Revenue Surges to $13.48 Million Amid Ongoing Burns

Hyperliquid's (HYPE) protocol revenue has reached $13.48 million for the week, driven by gross fees of $15.11 million.

The protocol burned 156.58K HYPE tokens worth approximately $12.42 million this week.

Cumulative revenue has now exceeded $1.31 billion, with 48.70 million HYPE tokens removed from circulation, representing about 4.87% of the total supply.

The increase in revenue is largely due to Hyperliquid's growing DeFi TVL, which climbed to $1.31 billion, while stablecoin liquidity sits at $6.83 billion.

However, for the burn mechanism to continue reducing supply, fee growth must outpace HYPE's price gains.