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HYPE Hyperliquid repurchased 112,580 HYPE tokens, and ETF capital inflows boosted market popularity.
Hyperliquid's HYPE tokens have recently regained market attention, mainly due to large-scale token repurchase operations and the influx of capital into exchange-traded fund (ETF) products. Driven by continued token destruction and stable net capital inflows into ETF products, the HYPE ecosystem is increasingly highlighting the close connection between fees incurred by agreements and token economics.
Increased token destruction, significant increase in agreement revenue
According to data shared by Onchain Lens, Hyperliquid purchased 112,580 HYPE tokens and permanently removed them from circulation within 24 hours at a weighted average price of US$90.20, with a total repurchase value of approximately US$10.15 million. This move brought the total number of HYPE tokens destroyed to nearly 49.25 million, with an estimated total valuation of US$4.45 billion based on the current price at the time of the transaction.
Hyperliquid's ongoing token destruction campaign highlights the close connection between its agreement activities and revenue models. Onchain Lens reported that the network has accumulated approximately $989,000 in agreement fees in the past 24 hours, while generating nearly $9.85 million in revenue over the past seven days. In the past 30 days, Hyperliquid's network revenue has reached $52.06 million, indicating that economic activity on the chain is strong enough to support regular token repurchase and destruction mechanisms.
Net inflow of ETF funds injects vitality into market momentum
Investment products linked to ETFs also contribute to HYPE's strong market presence. As of October 2, Hyperliquid Daily recorded a combined net inflow of $224,740 to HYPE ETF, demonstrating the stability of institutional and retail demand. Among these inflows, Grayscale's HYPG accounted for $158,090, followed by 21Shares's THYP ($54,150) and Bitwise's BHYP ($12,490). The distribution of capital inflows among different providers reflects expanding investor interest in HYPE-backed products.
Technical Form Analysis and Analyst Insights
HYPE's price structure shows signs of improvement after the token rebounded to key resistance levels. Cryptocurrency analyst Alpha Crypto Signal believes that this correction that breaks through the key level range is an optimistic signal for bullish sentiment in the short term. If buying interest continues to be strong, previous resistance levels could turn into important support, providing a key advantage for bulls and paving the way for the next round of gains.
Nevertheless, Alpha Crypto Signal emphasized that the durability of this bullish layout will depend on whether HYPE can remain above the recovery area. If prices fall back below the region, the effectiveness of the breakthrough may be questioned and a reassessment will need to be carried out at that time. Maintaining momentum at this technical level is critical, while capital inflows and negotiated revenue from ETF products will continue to be important indicators of continued demand and potential for further token destruction.
Looking forward, HYPE's direction is likely to be determined by the interplay between ETF interest, network earnings and the ability to maintain bullish technical support. Regular token destruction supported by agreement revenue adds a scarcity dimension, a factor that has been closely watched by market participants.
