<ul><li>Hyperliquid (HYPE) has surged to a new all-time high of $40.99, driven by market speculation and increasing institutional interest, with a trading volume of over $430 million in the last 24 hours.</li><li>On-chain metrics for Hyperliquid show impressive growth, with Total Value Locked (TVL) estimated between $560 million and $1.46 billion, Futures Open Interest exceeding $1.7 billion, and Stablecoin reserves over $3.6 billion, indicating a thriving ecosystem.</li><li>Institutional and whale activity, such as a large purchase of 259,000 HYPE tokens by a single whale and the top 20 wallets holding 24% of the platform's open interest, are contributing to the upward momentum but also pose potential risks of price fluctuations.</li><li>Hyperliquid stands out with its buyback strategy, using most of its daily trading revenue to repurchase HYPE tokens, tightening supply, and supporting the bullish structure. Additionally, the token serves real utility in the Hyperliquid DEX ecosystem for features like staking, governance, and fee reductions.</li></ul>

Hyperliquid Hits New ATH Today: What's the Hype about HYPE?

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