HYPE jumps 5% as token burn offsets $316 Million unlock, JUP gains weekly on supply freeze

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email HYPE jumps 5% as token burn offsets $316 Million unlock, JUP gains weekly on supply freeze Traders lean into supply compression stories in altcoins as Hyperliquid ramps up token burns and Jupiter freezes new emissions, even as bitcoin churns between $60,000 and $69,000 with muted flow. By Sam Reynolds Mar 2, 2026, 4:34 a.m. Make us preferred on Google What to know : Hyperliquid’s HYPE token rose about 5% as surging trading activity, especially in oil futures, boosted fee revenue and accelerated token buy-backs and burns even as bitcoin and the broader crypto market declined. The protocol generated $2.8 million in fees over the past 24 hours and over $13 million in the past week, enabling $9.22 million worth of HYPE to be burned in seven days, a 20.4% increase from the prior period. Traders appear less concerned about this week’s $316 million HYPE token unlock, roughly 2.7% of released supply, amid expectations of limited net supply growth, a supply-discipline narrative also supporting Solana-based Jupiter’s JUP token. Hyperliquid's HYPE token outperformed bitcoin and the broader market as traders flocked to the decentralized exchange over the weekend, placing bullish bets on TradFi-linked futures amid escalating Middle East tensions. HYPE has climbed more up to 5% in the past 24 hours, as exploding platform activity led to higher token burn rate, countering fears of an impending $316 million token unlock . Bitcoin, meanwhile, dropped 0.7% to $66,700. The CoinDesk 20 Index, a broader market gauge, has declined by 1.7% to 1,937 points. Hyperliquid’s fee mechanism channels a portion of trading fees directly into HYPE buy-backs and burns. So spikes in activity, like the weekend rush into oil futures, lead to increased fee revenue and slash circulating supply of the token. The protocol has earned $2.8 million in fees over the past 24 hours and over $13 million in one week, according to data source Defillama. It has burned $9.22 million worth of tokens over the past seven days, a 20.4% increase from the prior period. This has shifted attention away from the token unlock – roughly 9.92 million HYPE, equal to about 2.7% of released supply, is scheduled to unlock this week. With historical unlocks often resulting in smaller-than-projected releases, according to data tracked by Tokenomist , traders appear to be betting that net circulating supply will not expand meaningfully. Jupiter’s JUP token – up 13% in the last week and largely steady over 24 hours – has drawn similar attention after holders in a late-February governance vote approved eliminating net-new emissions for 2026, shelving planned token distributions and preventing any additional JUP from entering circulation this year, reinforcing the same supply-discipline narrative now driving selective altcoin strength. Hyperliquid Jupiter More For You Strategy lifts STRC dividend to 11.5% as MSTR extends monthly losing streak to 8 By James Van Straten | Edited by Stephen Alpher 12 hours ago Led by Executive Chairman Michael Saylor, the company raised the annual dividend on its widely-followed preferred STRC ("Stretch") series by 25 basis points. What to know : Strategy raised the dividend on its perpetual preferred stock, STRC, by 25 basis points to 11.50%. The company's common stock, MSTR, fell 14% in February, marking its eighth consecutive monthly decline. Read full story Latest Crypto News Bitcoin losing trillions in value hasn't stopped traditional giants' interest in digital assets sector 11 hours ago Strategy lifts STRC dividend to 11.5% as MSTR extends monthly losing streak to 8 12 hours ago Stablecoin yield rewards (likely won't be) banned under OCC proposal: State of Crypto 13 hours ago Bitcoin market bottom may be nearing, at least if measured against gold, analyst says 13 hours ago SpaceX’s $780 million bitcoin stack now down to about $545 million ahead of IPO filing 15 hours ago Ether, solana, xrp surge up to 10% as majors recover Saturday's war-driven losses 21 hours ago Top Stories Polymarket attracts record trading 'world' volumes as U.S.-Iran bets top $529 million Mar 1, 2026 Iran crisis puts the regime's $7.8 billion crypto shadow economy in spotlight Feb 28, 2026 Bitcoin tops $68,000 after Iran confirms leader killed in U.S., Israel airstrikes Mar 1, 2026 Oil-linked futures on Hyperliquid surge 5% after U.S.-Israel strike on Iran Feb 28, 2026 Here's how bitcoin's price rise could be fueled by job-stealing AI software Feb 28, 2026 Crypto community fear of Iran choking oil supply and crashing markets may be overblown Feb 28, 2026