As of October 7, Hyperliquid's cumulative protocol revenue has exceeded $1.4 billion, with over $1.26 billion already used to repurchase HYPE on the open market.
Note, this is cumulative data, not $1.4 billion earned in one month.
The most noteworthy aspect of these numbers is where the money goes after being earned: trading generates revenue, and that revenue turns into buying pressure for HYPE.
The token is finally not just for governance or rewards, but also to capture the money earned from the business.
Simply put, while you are figuring out how to make the next profit, it is figuring out how to charge for every transaction.
But buybacks are not price insurance. It still depends on whether subsequent revenue can be sustained and how large the new supply and sell pressure are.
A project making money does not necessarily mean the token price will rise; it is more worth studying when the money earned continuously buys tokens.
Disclaimer: OKX Orbit content is provided for informational purposes only. Learn more
