- HYPE hits a record $88 as strong momentum pushes the token toward the $100 target.
- A mystery whale now holds 2.9 million HYPE after purchasing heavily near $82.40.
- Hyperliquid spent $379 million on HYPE buybacks, supporting demand and reducing circulating supply.
Hyperliquid — HYPE, has given crypto traders another reason to watch Hyperliquid closely. The token surged to a record $88 on September 4. Strong whale accumulation has added fresh momentum behind the move. Meanwhile, aggressive buybacks have pushed HYPE toward the closely watched $100 level. HYPE currently trades around $85.78 after reaching the new record high. The token has gained 5.2% during the past 24 hours. Monthly gains have also climbed above 51%. Such momentum has placed HYPE firmly among the market’s strongest performers.
HYPE Momentum Builds as Buyers Target $100
The latest rally follows a powerful recovery from roughly $50 in early August. HYPE has since posted several strong moves higher. The recovery now places $90 to $95 firmly in focus. A breakout above that zone could open the path toward $100. The $100 level carries strong psychological importance among traders. Several catalysts have helped strengthen bullish sentiment around HYPE.
HYPE recorded a major increase in trading activity earlier this year. The platform offers around-the-clock trading, which attracted additional market participants. Rising activity also generated more fees for the protocol. Hyperliquid uses those fees to purchase HYPE from the market. Such purchases reduce circulating supply and create additional demand. That buyback model has become one of HYPE’s strongest market narratives.
Political developments have also supported optimism around the project. President Trump recently mentioned Hyperliquid during a White House crypto event. Trump said CFTC Chair Michael S. Selig was working toward a US launch. The announcement boosted expectations surrounding Hyperliquid’s potential American expansion. However, authorities have not provided a specific launch date. Traders must therefore treat the development as a future catalyst.
Aggressive Buybacks Strengthen HYPE’s Bullish Case
Hyperliquid’s buyback activity provides another major reason for investor attention. Hyperliquid Daily reports $379 million spent on HYPE buybacks during 2026. That figure reportedly makes HYPE the largest crypto buyback program this year. Pump.fun and Sky currently rank behind Hyperliquid by reported spending.
Large-scale repurchases can reduce available supply while supporting market demand. That dynamic becomes especially important during periods of strong trading activity. HYPE’s technical structure also remains firmly bullish for now. The token trades well above the 20-day EMA near $77.76. HYPE also remains above the 200-day EMA around $55.84. Those levels show how dramatically momentum has shifted since early August.
Bollinger Bands have widened as HYPE volatility increases. The upper band currently sits near $95.46. That level closely matches the broader $90 to $95 resistance area. A decisive breakout could therefore trigger another wave of buying. The next move will depend heavily on how buyers handle resistance. Strong volume could provide the confirmation bulls want.
