Hyperliquid's HYPE Token Drops 1.55% Despite $4M Buyback, Whale Activity

Hyperliquid's latest price was $32.81, down 1.55% in the last 24 hours. The cryptocurrency has been actively engaging in buyback activities, pushing over $4 million in daily buybacks. This substantial buyback effort is supported by a billion-dollar Assistance Fund, which backs up to 97% of fees, indicating a strong commitment to maintaining and increasing the value of HYPE tokens.

In addition to the buyback activities, Hyperliquid has seen a surge in whale activity, with reports of whale wallets acquiring over $5 million in HYPE within the last 24 hours. This influx of large investments has contributed to a spike in trading volume and has fueled speculation about a potential listing on major exchanges, particularly Binance. The anticipation of such a listing has added to the bullish sentiment surrounding HYPE, as traders and investors alike are eager to capitalize on the potential price movements that could follow.

Technical analysts have also been closely monitoring HYPE's price action, noting that the token has climbed nearly 20% in just seven days and is up 70% year-to-date. The current price is testing resistance in the $40–$41 band, and a close above this level could set up a clear path to the $50 mark. The structure remains bullish, with support holding at $38–$40 and the chart still within an upward channel. This technical setup suggests that if bulls can maintain control and flip short-term resistance, HYPE could become one of this quarter’s biggest movers.

The Hyperliquid (HYPE) rally potential is not just about short-term price movements but also about the long-term vision and execution of the project. The protocol's commitment to buybacks, whale activity, and potential exchange listings are all indicators of a strong and growing ecosystem. As the cryptocurrency market continues to evolve, projects like Hyperliquid that demonstrate solid execution and community support are likely to stand out and attract more attention from investors and traders alike.