HYPE Hits Record High as Hyperliquid Builds a 29M-Token Treasury

• HYPE reaches a record high as Hyperliquid Strategies expands holdings to 29.3 million tokens.
• Buybacks could strengthen HYPE demand, supported by growing network activity and treasury accumulation.
• Overbought momentum and a $1.2 billion token unlock create significant downside risks for HYPE.

Hyperliquid’s HYPE has reached another record after a powerful weekly rally. The move has pushed HYPE into a fresh price discovery phase. At the same time, treasury accumulation has become a major part of the story. Hyperliquid Strategies now holds 29.3 million HYPE tokens. New buyback plans could add another source of demand. Yet traders face important risks, including overbought momentum and a major token unlock approaching. Those factors could shape HYPE’s next move.

Hyperliquid Treasury Expands as HYPE Breaks Higher

HYPE trades near $85.33 after reaching $84.80 on Thursday. That marked the second record high within seven days. The token also posted a 40% weekly gain during the latest rally. Buyers pushed through the previous $77 resistance level. HYPE has since treated $77 as a support zone. Treasury growth provides another major reason behind the recent attention. Hyperliquid Strategies now holds 29.3 million HYPE tokens.

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