$HYPE Price Soars Above $56.80 as Hyperliquid Reports Strong Q2 Revenue and Buybacks

The Hyperliquid token price surged above $56.80 as the protocol reported strong quarterly revenue and initiated token buybacks, supporting its rebound from the $51 support area.

According to data from crypto.news, Hyperliquid's ($HYPE) price traded near $56.80 on Aug. 7, gaining about 2.5% over 24 hours after recovering from an early-August low around $51.20.

The rebound has lifted $HYPE roughly 11% from its weekly low, although its net seven-day gain remained closer to 3.7%. Trading volume stood near $250 million over the previous 24 hours.