HYPE rallies past $63 as trading fee revenue funds aggressive token repurchases, lifting market cap above $15 billion.
Hyperliquid’s HYPE token rose nearly 10% to over $63, driven by a $1.16 billion buyback program fueled by trading fee revenue. The move pushed its market cap above $15 billion, ranking it 11th globally among cryptocurrencies.
The protocol’s Assistance Fund directs nearly all trading fees—totaling $1.16 billion—into open-market HYPE purchases. This mechanism has absorbed sell pressure and supported recent price gains, alongside $53 million in ETF inflows since May.
Analysts note the buyback model depends on sustained trading volume, which could weaken if market activity declines.