TLDR
- Hyperliquid’s weekly protocol revenue reached $13.48 million, with gross fees at $15.11 million.
- The protocol burned 156.58K HYPE, worth around $12.42 million, this week.
- Cumulative revenue has hit $1.31 billion, with 48.70 million HYPE removed from supply.
- DeFi TVL climbed to $1.31 billion, while stablecoin liquidity sits at $6.83 billion.
- Burn pressure depends on fee growth staying ahead of HYPE’s price gains.
Hyperliquid’s trading volume keeps feeding its HYPE burn mechanism. This week, weekly protocol revenue reached $13.48 million. Gross fees came in at $15.11 million.
Part of that money was used to remove HYPE from circulation. The protocol burned 156.58K HYPE, worth close to $12.42 million.
This pattern has been building. Revenue increases have grown larger over time, according to protocol data.
Cumulative revenue has now reached $1.31 billion. Alongside that, 48.70 million HYPE, or about 4.87% of total supply, has been burned.
These two numbers move together. More trading activity means more fees, and more fees mean more tokens removed from supply.
USDC Liquidity Supports Growth
Hyperliquid’s DeFi TVL has climbed to $1.31 billion, up 2.68% over 24 hours. Stablecoin liquidity is much larger, standing at $6.83 billion.
That stablecoin pool dropped 2.41% over the past week. Even so, USDC makes up 98.31% of it, keeping liquidity concentrated in one asset.
Traders are using that capital. Daily perpetual volume hit $8.31 billion, while DEX volume reached $339.25 million.
A data snapshot shared in a post on X showed USDC holdings on Hyperliquid at roughly $6.72 billion. That figure sits just above the $6.71 billion held in Solana accounts, marking a shift in where stablecoin liquidity is concentrated.
That capital isn’t idle. The USDC pool generates close to $200 million in yield each year, which could become another funding source for HYPE buybacks.
A separate post on X pointed to Hyperliquid’s $8.31 billion in perpetual volume as proof of how deeply USDC liquidity supports daily trading on the platform.
If yield and trading volume both hold steady, Hyperliquid can keep a cycle running. Liquidity supports revenue, revenue funds buybacks, and buybacks reduce HYPE supply.
Can HYPE Sustain Its Burn Pressure?
Liquidity keeps Hyperliquid running, but the burn cycle faces one ongoing challenge. Fee growth has to outpace HYPE’s price gains for burns to keep reducing supply.
Weekly fees have ranged between $11 million and $15 million. That range shows burn activity still depends on trading conditions, not a fixed schedule.
As HYPE’s price rises, each dollar of fees buys fewer tokens. This creates a gap between the dollar value of burns and the actual drop in circulating supply.
Stronger fees alone don’t guarantee a faster burn rate. Trading growth has to outrun price appreciation for the mechanism to keep shrinking supply.
As of the September 18 update, cumulative revenue stands at $1.31 billion, with 48.70 million HYPE, or 4.87% of total supply, removed from circulation.
The post Hyperliquid (HYPE) Price: Weekly Revenue Hits $13.48 Million As Burns Continue appeared first on Blockonomi.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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