Hyperliquid buybacks, not ETFs, may be driving HYPE’s record run
Hyperliquid’s native token HYPE has extended its record rally as new analysis points to the protocol’s built-in buyback system as a main driver behind the move, rather than ETF demand alone. Summary Hyperliquid has routed over $1.16 billion in trading fees into open-market HYPE purchases since launch. DefiLlama says 99% of perps and spot revenue…
