HYPE hits all-time high on $400M buyback, but Binance threatens revenue
- —HYPE hit an all-time high of $86, up 47.5% in 30 days
- —Over $400 million in fees directed to HYPE buybacks, tokens are burned
- —Binance holds about half the RWA perpetual futures market
- —In July, Binance's share of ETF futures reached 74%
Why it matters: The sustainability of HYPE's buyback depends on fee revenue that is flowing to Binance — a key risk for the token's price.
Source: Digital Today