Hyperliquid spent over $1.26B on HYPE buybacks
- —Protocol revenue exceeded $1.4 billion as of October 7, 2026
- —Over $1.26 billion of that revenue went to HYPE buybacks
- —HYPE at $81.06 is about 17% below its $97.93 all-time high
- —ETH at $2,501 is roughly 50% below its $4,955.30 peak
Why it matters: Buybacks hinge on exchange fees, so a drop in trading volume would weaken support for HYPE, unlike Ethereum's burn mechanism.
Source: DiarioBitcoin