HYPE Token Surges to Record High as Whale Buying and Buybacks Fuel Momentum

Hyperliquid's HYPE token has surged to a record high of $88 on September 4, fueled by strong momentum and whale buying. The token has been steadily gaining traction since early August, when it traded around $50.

The recent rally has placed HYPE firmly among the market's strongest performers, with a 5.2% gain in the past 24 hours and over 51% in monthly gains.

A mystery whale now holds 2.9 million HYPE after purchasing heavily near $82.40, further boosting demand and reducing circulating supply.

Hyperliquid's aggressive buyback activity has also played a significant role in the token's success, with the platform spending $379 million on HYPE buybacks this year, making it the largest crypto buyback program so far.