Hyperliquid buys back and burns 21,040 HYPE in 24 hours… $1.64 million

Hyperliquid bought back and burned 21,040 HYPE tokens over the past 24 hours, valued at roughly $1.64 million at an average price of $77.93 per token, according to on-chain data from Onchain Lens. The mechanism is tied to the protocol's fee documentation, which states that trading fees flow into an Assistance Fund where they are automatically converted into tokens that are then burned, removing them from circulating and total supply. The buyback-and-burn matters because it creates persistent supply reduction proportional to protocol trading activity, linking fee revenue directly to token scarcity. The figures reflect only the most recent 24-hour period and do not represent cumulative burns or the token's current market price. What to watch next is whether the daily burn pace holds or accelerates alongside Hyperliquid's trading volumes, since that relationship determines how much supply is removed over time.