🔥 [$HYPE In-depth] Can the Buyback Machine Withstand the July 6 Unlock? Fundamentals of the Leading On-Chain DEX$BTC $SOL

Amid the market's range-bound correction, which assets show greater resilience? Today, we focus on HYPE, the native token of Hyperliquid—the absolute leader in on-chain perpetual contracts.

📊 I. Core Fundamentals: Why Is HYPE Called the "Buyback Machine"?

Hyperliquid currently holds over 70% of the on-chain perpetual contract market, making it the undisputed leading on-chain perp DEX.

Its strongest moat lies in its economic model: approximately 99% of protocol trading fees automatically flow into the Assistance Fund, which is used to continuously repurchase HYPE from the open market and remove it from circulation.

As long as platform trading volume remains high, buybacks proceed continuously. This is a key reason why HYPE has shown strong resilience during multiple past corrections. The cumulative buyback amount has now exceeded $1.1 billion.

📰 II. Latest News (Updated July 3)

On-chain data shows that some large holders/institutional addresses have spent approximately $40.6 million today to buy about 600k HYPE tokens.
Next Monday (July 6), approximately 9.92 million HYPE (worth about $630 million) will unlock.

Historically, after multiple past unlocks, HYPE's average performance over the following 7 days has been relatively mild (data sourced from on-chain statistics, for reference). Markets often price in negative news in advance, and new liquidity after unlocking may attract market makers to enter.

Former Goldman Sachs trader Arthur Hayes once set a target price of $150 by August 2026. Currently, the price remains near the $60 range, and long-term potential is still viewed favorably by some market participants.

🎯 III. Trading Strategy Suggestions

📈 Short-Term (Betting on the July 6 Unlock):
Aggressive users may consider accumulating positions near the current price in batches, betting on a rebound after "bad news is fully priced in." The first target can be around $76 (approximately 20% upside). It is recommended to set stop-losses and focus on daily platform trading volume changes.

⏳ Mid-to-Long Term:
As long as on-chain trading volume and overall risk appetite hold, HYPE remains one of the higher-beta assets in the perp DEX track. Participating in network governance via staking provides a clearer long-term holding rationale.

⚠️ IV. Risk Warning
After the July 6 unlock, short-term volatility may increase. Be cautious of potential selling pressure from early investors/institutional addresses. If the price decisively breaks below the key support of $58, it is recommended to wait and observe. HYPE remains influenced by BTC and overall market sentiment and is not entirely independent.