HYPE jumps 5% as token burn offsets $316 Million unlock, JUP gains weekly on supply freeze
Hyperliquid's HYPE token rose 5% due to increased fee revenue from high trading volume offsetting concerns over a token unlock, while Jupiter's JUP gained on a supply freeze.Summary
Hyperliquid's HYPE token increased by about 5% as surging trading activity, particularly in oil futures linked to escalating Middle East tensions, boosted fee revenue and accelerated token buy-backs and burns. The protocol generated $2.8 million in fees in the last 24 hours, leading to $9.22 million worth of HYPE being burned over the past week, a 20.4% increase. This strong burn rate has mitigated trader concerns regarding an upcoming $316 million HYPE token unlock, which represents about 2.7% of the released supply. Concurrently, Solana-based Jupiter's JUP token has also seen gains, rising 13% over the last week, driven by a governance vote to eliminate net-new emissions for 2026, reinforcing a broader market narrative focused on supply discipline among select altcoins.
(Source：CoinDesk)