HYPE Token Hits All-Time High of $84.80 Amid Regulatory Momentum and Buybacks
Hyperliquid's token, HYPE, has reached an all-time high of $84.80 after breaking above its previous ceiling at $77 last week. The token's market capitalization approached $19 billion, with a nearly 4% increase in price on Thursday.
The rally is attributed to several factors, including the AQAv2 program, which directs most yield from $6.74 billion in stablecoin deposits toward HYPE buybacks. This mechanism could add about $182 million annually, an 18% increase over current revenue of roughly $2.76 million per day.
The first distribution is expected on October 3, and the token's price outlook suggests that it may test resistance near $92.37, the 1.272 Fibonacci extension. However, a $1.2 billion token unlock scheduled for August 29 poses an immediate downside risk, which could test demand.