Hyperliquid’s HYPE Token Surges 11.5% Amid SEC Filing and Buyback Momentum
Hyperliquid's HYPE token rallied 11.5% in 24 hours following its parent company's S-1 filing with the SEC, targeting a $1 billion raise. The potential use of proceeds for token buybacks has fueled bullish sentiment, with Hyperliquid Strategies Inc. already repurchasing $21 million worth of HYPE last week.
Despite Binance CEO Changpeng Zhao's earlier prediction that rival ASTER WOULD outperform HYPE, the tables have turned dramatically. ASTER has collapsed 60% while HYPE consolidates near $40, demonstrating resilience during market-wide sluggishness.
Platform growth metrics underscore the momentum. Hyperliquid hit a record 779,063 cumulative users, maintaining a steady inflow of 1,800 daily signups since late 2023. The project's aggressive tokenomics - including $3 million in daily buybacks lifting the average price to $35.60 - creates artificial scarcity amid growing adoption.
