Hyperliquid’s HYPE Hits Record High Above $50 on Trading Boom, Token Buybacks

The original symbol of liquid hyperactivity (HYPE) has risen to the highest new level ever early on Wednesday, as it continued to climb it in a meteor this year, as the decentralized stock exchange known as the permanent circulation of the series attracted record activity.

The distinctive symbol penetrated 50 dollars for the first time, with about 8 % in the past 24 hours. The noise has now increased by 430 % since April rare and raised nearly 15x since trading began in late November by about $ 3.

This gathering is fed with the activity of trading registrations via the stock exchange and the automatic repurchase mechanism, which absorbs the distinctive symbols from the market and reduces the circulating supply.

Read more: Hyperlequid is now dominating Defi derivatives, $ 30 billion per day

The decentralized stock exchange recorded more than 357 billion dollars in the size of derivatives in August, according to Devillama data, an increase of $ 319 billion in July and the highest ten times over last year. Immediate trading volumes also set a record, exceeding $ 3 billion for the week ending August 24, and BlockWork data appears.

These flows are translated into a protocol. Hyperleliid reservation 105 million dollars in trading fees during the month of August, which is the top of this year, for all DEFILLAMA data.

Many of these profits are converted directly to the noise purchase on the market through the Hyperliviid help box. This elbow is a mechanism on the chain that buys the distinctive symbols in the open market, creating constant pressure to purchase the noise and effectively reduce the circulating offer.

Since its launch in January, the Fund’s property has swallowed from 3 million symbols to 29.8 million fuss, and it is now a value of more than $ 1.5 billion, which increased the distinguished code rally.

On the news front, the digital asset guard added on Tuesday to Hyperevm, which supports the excessive liquid ecosystems, and cancel the access to institutional access to noise and relevant applications.

In a recent research note, BYTIEEE Sheriar Ali and Charlie Morris described the popular questioner as “force” that has become the largest place in a permanent and decentralized future.

“All the things that have been taken into account, is that excessive liquid is among the most persuaded protocols in Defi today,” they wrote. “Its strong basics, the generation of record fees and the dominant market share make it impossible to ignore it.”

Despite the upscale essentials, the report also reported concerns about the evaluation of the distinctive symbol. The noise is currently trading with a fully diluted evaluation (FDV) in excess of $ 50 billion, with about a third of the offer in circulation with 6.8 billion of the market value.