Hype Surrounds Hyperliquid as Treasury Buys $167M Worth of Tokens

HYPE's price surged 3.55% over the last 38 hours following a large-scale accumulation by its treasury vehicle, Hyperliquid Strategies.

The purchase of 1.9 million HYPE tokens, valued at around $167.2 million, was made against a backdrop of strong buyback and burn narratives.

This move is likely to have tilted short-term order flow back toward the bid, supporting the price increase.

Despite this uptick, HYPE's market capitalization remains below its all-time high price of $97.98, with a current market cap of around $22.7 billion.

The recent 3.55 percentage point move is attributed to large treasury buying and partially relieved unlock overhang, rather than a broad market swing.