$HYPE buybacks have now surpassed $1.25 billion.
Hyperliquid’s buyback and burn program continues at scale, with an average purchase price around $26.81.
The protocol also generated approximately $2.14 million in fees over the last 24 hours, keeping the demand mechanism active.
This remains one of the more consistent fee-to-buyback models in the market.
Traders will be watching whether fee generation stays elevated and how the ongoing buybacks interact with price action.