Hyperliquid buybacks, not ETFs, may be driving HYPE’s record run
The post Hyperliquid buybacks, not ETFs, may be driving HYPE’s record run appeared on BitcoinEthereumNews.com. Hyperliquid’s native token HYPE has extended its record rally as new analysis points to the protocol’s built-in buyback system as a main driver behind the move, rather than ETF demand alone. Summary Hyperliquid has routed over $1.16 billion in trading fees into open-market HYPE purchases since launch. DefiLlama says 99% of perps and spot revenue goes to the Assistance Fund buyback mechanism. HYPE hit $64.23 on May 24 as crypto.news data showed strong weekly and monthly gains. Forbes contributor Zennon Kapron argued that HYPE’s latest run is tied closely to Hyperliquid’s Assistance Fund, a protocol mechanism that uses trading fee revenue to buy HYPE in the open market. His report said Hyperliquid has used more than $1.16 billion in fee revenue for token purchases since launch. The model differs from a normal company buyback. Hyperliquid does not run the process through a board