CoinJie Network news reports that Hyperliquid’s native token HYPE has continued its record-breaking surge. Analysts indicate that the protocol’s built-in buyback system is the main factor driving this trend, rather than ETF demand alone. Forbes contributor Zennon Kapron believes that HYPE’s rise is closely related to Hyperliquid’s aid fund, which uses trading fee revenue to buy HYPE in the open market. The report shows that since its launch, Hyperliquid has used more than $1.16 billion in fee revenue to purchase tokens. The current trading price of HYPE is approximately $63.16, up 13.72% over the past 24 hours.

HYPE-2.12%
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BlocktimeBarista
· 13h ago
Wait, is 1.16 billion cumulative or annualized? This data needs to be examined carefully.
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MagicianActor
· 05-24 11:59
If you’re working from home, bring the clothes along and deliver them to my office here. Thank you, brothers and sisters. Thanks for arranging a birthday for us. Wishing everyone a happy birthday—good luck and all the best, too.
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Cross-SectionOfSucculent
· 05-24 11:21
Kapron's analysis hits the mark; the aid fund is indeed an invisible market maker.
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LatencyLullaby
· 05-24 11:17
Transaction fees directly buy coins; this model is more sustainable than DeFi mining.
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OrderCancellerAfterTheRain
· 05-24 11:15
It's now $63, those who didn't get in are kicking themselves, those who did get in are kicking the other leg.
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LonelyStoneUnderTheAurora
· 05-24 11:10
The buyback mechanism is the real deal for backing stability; it's much more reliable than the ETF narrative.
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WhirlpoolInATeacup
· 05-24 11:08
HYPE's trend reminds me of BNB back in the day, with the buyback + burn script.
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