The Hyperliquid Assistance Fund has bought more than 48 million HYPE tokens for $1.36 billion. Those holdings are now worth about $3.95 billion, while the HYPE price slipped nearly 5% over 24 hours.
The Hyperliquid Assistance Fund has cumulatively purchased more than 48 million HYPE tokens for $1.36 billion. The current market value of those holdings is about $3.95 billion as of Tuesday.
Trading fees fund the buybacks
The fund primarily acquires HYPE through continuous open-market buybacks funded by Hyperliquid trading fee revenue. Perpetual and spot trading fees go to the Assistance Fund, which converts them into HYPE purchases to return value to token holders.
Tokens acquired this way are treated as burned, which removes them from circulating and total supply. As a result, HYPE now has a total supply of 955.30 million, according to CoinGape.
USDC reserve yields add buyback funding
Hyperliquid also activated its Aligned Quote Asset v2 (AQAv2) framework to buy back and burn HYPE from generated USDC reserve yields. The fund received its first payment of nearly $14.58 million in USDC in early October.
This lifted buyback funding beyond regular trading activity alone. According to CoinGape, the mechanism adds hundreds of millions of dollars in annual capacity, depending on reserve size and yields.
HYPE slips as derivatives show selling
HYPE traded around $81.20, down nearly 5% over the last 24 hours, amid broader crypto market volatility. The 24-hour low and high stood at $79.52 and $85.73.
Trading volume reached $931,562,652 in 24 hours, a rise of more than 59%. Meanwhile, CoinGlass data showed the 24-hour HYPE futures open interest down 2.87%, although open interest on Binance and OKX climbed by more than 2.88% and 3.84%.
Source: CoinGape
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