Hyperliquid News: Protocol Burns 112,580 HYPE in 24 Hours

Hyperliquid bought and burned 112,580 HYPE over the past 24 hours, according to Onchain Lens monitoring. The tokens were bought at a volume-weighted average price of $90.2, and Odaily valued the batch at $10.15 million.

This Hyperliquid news lifts the total amount of HYPE permanently removed from circulation to 49.25 million tokens.

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Hyperliquid News: 24-Hour Burn Data

Figures reported on October 5, 2026:

• HYPE bought and burned (24 hours): 112,580

• Volume-weighted average price: $90.2

• Value of tokens burned: approximately $10.15 million

• Estimated fees (24 hours): $989,000

• Revenue (7 days): $9.85 million

• Revenue (30 days): $52.06 million

• Total HYPE permanently removed from circulation: 49.25 million

Readers who follow Hyperliquid on-chain activity in real time can do so through the SpotX live stream.

Main Hyperliquid News: What Onchain Lens Reported

Onchain Lens, which monitors on-chain wallets and protocol activity, tracked the buy and burn over a single 24-hour window. Odaily reported that the tokens may have been funded by AQAv2 revenue and fees.

For scale, the $10.15 million burn compares with estimated 24-hour fees of $989,000 and 7-day revenue of $9.85 million. All of these figures were reported by Odaily.

What Is AQAv2? Background on the Funding Source

AQAv2 is the framework that lets the Hyperliquid Assistance Fund use USDC reserve yield to buy HYPE on the open market and burn it. Key details from earlier reporting:

• Yield accrual began: August 26, 2026

• First payment: approximately $14.58 million in USDC, pending transfer to the Assistance Fund as of October 3, 2026

• Share of net USDC yield routed to the fund: about 90%

• Share of trading fees routed to the fund: about 99%

• Fund action: buys HYPE on the open market and burns it

• Payment schedule: every 30 days, according to reporting on the validator vote

USDC held on Hyperliquid is split between two accounts. A smaller Circle-managed account handles technical functions, and a larger Coinbase-managed treasury account earns the reserve yield. That yield is shared with Hyperliquid after issuer costs.

The setup ties buyback funding to the size of USDC deposits on the platform, not only to trading fees generated by activity.

Other Hyperliquid News This Week

Several other Hyperliquid developments were reported in recent days:

• Team token sale: Hyperliquid Labs is unstaking 3.75 million HYPE, worth about $329 million, for an OTC sale to a single institutional buyer. That is about 1.5% of circulating supply.

• HYPE ETF flows: HYPE ETFs recorded $5.03 million in outflows on Wednesday, after $9.25 million in inflows the previous week. For September overall, the funds closed with $6.86 million in net outflows.

• Open interest: total open interest on Hyperliquid reached a record of about $18 billion in late September 2026. ETH open interest of about $3.02 billion passed BTC's roughly $2.80 billion.