Hype Surrounds HYPE as Hyperliquid Accumulates More Tokens

Hyperliquid Strategies has continued to accumulate HYPE tokens despite its reduced cash reserves at the end of last fiscal year. The Nasdaq-listed company maintained $1.9 billion worth of 29.3 million HYPE tokens as of June 30. Since then, it has been buying more HYPE, with another 494,200 tokens added to its treasury on September 25.

The purchase was made at an average cost of $93.70 per HYPE, close to the token's peak price since inception. The total value of the acquired HYPE is approximately $45.8 million. This move comes as large holders are moving tokens towards potential sale, increasing attention on supply.

The unstaking requests from five addresses totaled about 983,600 HYPE worth nearly $90.44 million. While unstaking does not necessarily indicate a sale, it has raised concerns about the balance between supply and demand in the market.