Hyperliquid’s HYPE token has surged to a record high, but an aggressive protocol-driven buyback program is driving the rally.

A Hyperliquid trader shorting HYPE before its surge is unwinding, selling $14M+ with $13M more to come as the token hit an ATH recently.

Hyperliquid’s HYPE token has surged to a record high, but an aggressive protocol-driven buyback program is driving the rally.

Hyperliquid's HYPE token hit an all-time high above $62 as US spot ETFs from 21Shares and Bitwise extended an 8-day inflow streak totaling $54 million.

HYPE rallied to new highs as ETF inflows, rising open interest and exchange growth highlight boosted demand across spot and futures markets.

HYPE ETFs tracking Hyperliquid's native token have surpassed $100M in cumulative net inflows, signaling growing investor appetite for altcoin fund products.