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Coinbase Officially Manages USDC Treasury for Hyperliquid, HYPE Token Price Rises 12%

Coinbase officially took over the management of the USDC treasury belonging to the decentralized exchange Hyperliquid on Monday (8/6). This process was executed through the implementation of the AQAv2 framework by assigning two dedicated wallet addresses to manage the platform's asset reserves.
​Coinbase's entry is expected to increase Hyperliquid's annual revenue to over $200 million. Since this protocol has a rule to use 99% of their revenue for token buyback via the Assistance Fund feature, the profits from treasury management will automatically circulate back to increase purchase volume in the market.
​This strategic move is also supported by the platform's solid fundamental conditions. Hyperliquid recently recorded a weekly revenue of $24.07 million purely from transaction fees. Although its performance is healthy, market participants remain cautious of external risks, especially warnings from the UK Financial Conduct Authority and potential selling pressure from upcoming key token unlock schedules.
​The combination of strong fundamentals and the sentiment of treasury takeover immediately had a positive impact on the movement of its underlying asset. The HYPE token price recorded a 12% increase and stabilized again around $64, after previously being dragged down to $57 due to market correction.