HYPE (Hyperliquid) rose 6.84% in the last 24 hours.

Gate News Bot news, on October 20, according to CoinMarketCap data, HYPE (Hyperliquid) is currently priced at $38.39, up 6.84% in the last 24 hours, with a high of $43.55 and a low of $33.82. The 24-hour volume reached $407 million. The current market capitalization is approximately $12.926 billion, an increase of $828 million compared to yesterday.

Hyperliquid is a blockchain platform designed to accommodate all finance. Its flagship application is a decentralized exchange that offers zero gas fees and low trading costs, with leverage of up to 40 times. HYPE is the native token of the network, allowing anyone to own, govern, and protect Hyperliquid. The platform features a block time of 0.07 seconds, with a maximum of 200,000 TPS, and a daily trading volume of $8.1 billion. Hyperliquid emphasizes community-first, with no investors, paid market makers, and does not charge any fees to companies.

HYPE recent important news:

1️⃣ Large amounts of funds flow to the Arbitrum network In the past 7 days, Hyperliquid has seen a net outflow of approximately $1.5 billion, with over $1.4 billion flowing into the Arbitrum network. This large-scale capital migration suggests that investors may be adjusting their asset allocation strategies or seeking new investment opportunities on Arbitrum.

2️⃣ Token buyback plan continues to advance Hyperliquid's token buyback expenditure has reached $644.6 million so far in 2025, ranking first among all projects. A total of approximately 21.36 million HYPE has been repurchased, accounting for 2.1% of the total supply. This large-scale buyback plan helps reduce market circulation, which may provide some support for the HYPE price.

3️⃣ Platform upgrade attracts attention Hyperliquid recently completed the HIP-3 upgrade, enabling the creation of permissionless perpetual contract markets. This upgrade allows developers to launch permissionless perpetual contract DEX on HyperCore by staking 500,000 HYPE tokens. This innovation may attract more developers and users to participate, potentially increasing the demand and use cases for HYPE.

From a technical perspective, the HYPE price has shown an upward trend in the past 24 hours, but has not yet broken through the previous high point. Investors should pay attention to the resistance levels around $43-44 and the support levels around $33-34. On the fundamental side, the token buyback plan and platform upgrades may provide medium- to long-term benefits for HYPE, but large capital outflows should also be monitored.

This message does not constitute investment advice; investors should be aware of market volatility risks.