Buybacks are burning tokens, treasuries are buying, yet $HYPE is falling?
Over the past 24 hours, online discussions about $HYPE have largely revolved around one contradiction.
1) On one side, real money is being spent to buy and burn:
The protocol burned about 11,340 $HYPE in 24 hours, worth approximately $890,000, while fee revenue over the same period was about $765,000.
A total of 49.63 million tokens have been burned, or 4.96% of the maximum supply. Revenue over the past 30 days was about $70 million.
On October 15, Nasdaq-listed Hyperliquid Strategies bought another 180,000 tokens (about $14.3 million), raising its total holdings to 38.7 million. It has continued adding to its position for several months.
2) On the other side, the price is pulling back:
It is currently around $79, nearly 20% below its September 23 peak.
It is down about 15% over the past month, underperforming BTC/ETH/SOL.
In early October, the team unlocked about 3.75 million tokens for OTC distribution, an amount far exceeding the scale of buybacks over a month.
3) Opinions are divided:
Bullish camp: CryptoQuant ranked $HYPE as analysts’ most bullish pick, with targets mostly between $100 and $120. They believe the flywheel of buybacks and treasury purchases is still turning.
Cautious camp: Influential voices make bold claims, but there are few public records of large on-chain purchases. Supply is being absorbed, while team allocations and selling pressure from circulating tokens have yet to be fully digested.
4) The core contradiction:
Buybacks are burning tokens, treasuries are buying, and analysts are highly bullish, yet the price is still retreating from its peak and underperforming the broader market. Unlock pressure on the supply side and sustained buying on the demand side are both present.
What do you think? Join the discussion in the comments.
#hype #HyperFund #加密货币 #OnchainData
Over the past 24 hours, online discussions about $HYPE have largely revolved around one contradiction.
1) On one side, real money is being spent to buy and burn:
The protocol burned about 11,340 $HYPE in 24 hours, worth approximately $890,000, while fee revenue over the same period was about $765,000.
A total of 49.63 million tokens have been burned, or 4.96% of the maximum supply. Revenue over the past 30 days was about $70 million.
On October 15, Nasdaq-listed Hyperliquid Strategies bought another 180,000 tokens (about $14.3 million), raising its total holdings to 38.7 million. It has continued adding to its position for several months.
2) On the other side, the price is pulling back:
It is currently around $79, nearly 20% below its September 23 peak.
It is down about 15% over the past month, underperforming BTC/ETH/SOL.
In early October, the team unlocked about 3.75 million tokens for OTC distribution, an amount far exceeding the scale of buybacks over a month.
3) Opinions are divided:
Bullish camp: CryptoQuant ranked $HYPE as analysts’ most bullish pick, with targets mostly between $100 and $120. They believe the flywheel of buybacks and treasury purchases is still turning.
Cautious camp: Influential voices make bold claims, but there are few public records of large on-chain purchases. Supply is being absorbed, while team allocations and selling pressure from circulating tokens have yet to be fully digested.
4) The core contradiction:
Buybacks are burning tokens, treasuries are buying, and analysts are highly bullish, yet the price is still retreating from its peak and underperforming the broader market. Unlock pressure on the supply side and sustained buying on the demand side are both present.
What do you think? Join the discussion in the comments.
#hype #HyperFund #加密货币 #OnchainData