Hyperliquid HYPE Buyback Drives Token Rally More Than ETF Inflows, Analyst Says

TLDR: Hyperliquid has funneled over $1.16 billion in cumulative trading fees into open-market HYPE buybacks since launch. The Assistance Fund deploys nearly 99% of protocol revenue into continuous HYPE purchases, operating independently of investor sentiment. Quarterly buybacks dropped roughly 40% from Q3 2025 to Q1 2026, even as HYPE continued climbing to record highs. Analysts [...]

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