Hyperliquid Fueling Hype Price Surge as Altcoin Nears $100

Hype (HYPE) has seen its price surge by 88% in Q3 thanks to a record-breaking market liquidity of $8.8B on Hyperliquid, which has doubled revenue and nearly quadrupled the buyback program.

The platform's Open Interest (OI) hit $8.8 billion, outpacing the level seen at the peak of the recent bull market last October.

This renewed trading activity has fueled a 4x increase in HYPE buybacks, with weekly revenue dedicated to assistance fund buybacks surging from about $5M to $20M in August.

Hype's price reached a new all-time high (ATH) of $96 in September and could soon cross the psychological level of $100, although some institutional players expect the rally to cool off after the massive 88% gain.