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6h ago

Hyperliquid’s HYPE Breaks $50 to Set Record High Before Brief Pullback

Automated, fee‑funded buybacks on surging exchange volumes are reducing float, concentrating demand.

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Hyperliquid’s hype hits record high above $50 on trading boom, token buybacks

Overview

  • HYPE touched a new all-time high near $51 on August 27 and then eased, with the token hovering around $48 in early Thursday trading.
  • Hyperliquid recorded over $357 billion in August derivatives volume and about $105 million in trading fees, which are converted into on-chain buybacks via the Assistance Fund.
  • The Assistance Fund’s holdings have climbed from roughly 3 million to 29.8 million HYPE since January, reinforcing persistent buy pressure and shrinking circulating supply.
  • Institutional access improved as BitGo added support for the HyperEVM network, and on-chain trackers reported two whales bought 175,130 HYPE (about $8.47 million) within 12 hours.
  • Analysts outline upside scenarios toward $82–$85 and potentially $100 if momentum holds, while cautioning on a fully diluted valuation above $50 billion and scheduled token unlocks beginning in November.