Hyperliquid Surges 10% as $1.16 Billion Buybacks Fuel HYPE Flippening Speculation
BeInCrypto
Hyperliquid's HYPE token rose 10% following a massive $1.16 billion buyback program and growing speculation about a potential flippening of Binance.Summary
Hyperliquid (HYPE) has surged 10%, surpassing a $15 billion market capitalization, driven by a $1.16 billion buyback program that utilizes trading fee revenue to stabilize the token. Supported by rising institutional interest in HYPE-focused ETFs and impressive on-chain trading volumes that challenge major centralized exchanges, analysts are increasingly speculating on a potential 'flippening' where Hyperliquid might surpass Binance in influence. Unlike other projects that have failed to maintain price support through buybacks, Hyperliquid's model is anchored in consistent, recurring perpetual trading fee revenue.
(Source：BeInCrypto)