Hyperliquid Receives $14.6 Million USDC Payment for HYPE Buybacks
Hyperliquid announced on Monday a significant $14.58 million USDC payment under its Aligned Quote Asset v2 (AQAv2) framework. This marks the first yield distribution from USDC reserves held within the Hyperliquid ecosystem, providing a new revenue stream for HYPE token buybacks. The yield began accruing after AQAv2 activated in late August, covering approximately 30 days of reserve income. Under AQAv2, around 90% of the cost-adjusted reserve yield is shared with Hyperliquid’s Assistance Fund, which uses the revenue to purchase HYPE tokens.
The new framework allows reserve income to accumulate even when assets are not actively traded, distinguishing it from transaction fees. This arrangement expands the sources of income available to support token purchases. However, the $14.58 million distribution does not indicate that the Assistance Fund has already bought an equivalent dollar amount of HYPE. Future distributions will depend on reserve balances, yields earned, and applicable costs.
This development follows the recent listing of Hyperliquid’s perpetual futures on the Bloomberg Terminal, disclosed by Michael McDonough, head of market innovation for Bloomberg. The listing includes perpetual futures linked to commodities like oil, gold, and silver, as well as prominent stock indexes and cryptocurrencies. While the timing aligns with increased interest, it does not establish a direct causal link between the Bloomberg listing and HYPE’s gain.
On the technical side, HYPE remains above its 20-day, 50-day, and 100-day exponential moving averages at approximately $89.50, $83.10, and $74.80, respectively. The Relative Strength Index stands near 58, indicating moderately positive momentum without an overbought reading. Immediate resistance lies near $97.70, with the next upside reference around $109.10 if that barrier is sustained.