Hyperliquid repurchased and burned 32,800 HYPE tokens in 24 hours, with cumulative burns accounting for 4.86% of the total supply.

BlockBeats news, September 12th, according to OnchainLens monitoring, Hyperliquid repurchased and burned 32,770 HYPE tokens in the past 24 hours, valued at approximately $2.65 million based on an average price of $81.01.

As of now, Hyperliquid has cumulatively burned about 48.57 million HYPE tokens, which, based on the maximum supply, means approximately 4.86% of the tokens have been permanently removed.

Hyperliquid's HYPE repurchase mechanism is primarily driven by platform trading fees, with the protocol using related revenues to buy back HYPE on the market and then burn it. Recent on-chain data also indicates that this mechanism continues to operate.