Citrini puts Hyperliquid on watch as HYPE jumps over 10% from Sunday lows

Hyperliquid’s HYPE token rebounded more than 10% from Sunday afternoon lows after falling over 25% last week, as traders returned to one of crypto’s strongest performing DeFi assets following a sharp market reset.

HYPE recently traded near $64, recovering from last week’s lows near $55, according to CoinGecko data. The rebound came after the token pulled back from an all time high of nearly $75, with last week’s decline driven by broader risk off pressure and profit taking across high beta crypto assets.

The recovery also comes after Citrini Research called Hyperliquid a compelling investment in its Monday Substack, citing the protocol’s ability to generate meaningful cash flow while funding a large scale buyback program.

Citrini said HYPE stands apart from much of the crypto market because it is backed by real platform activity. More than 90% of Hyperliquid’s platform fees are redirected into its Assistance Fund, which is then used to buy HYPE on the open market.

The firm also pointed to the scale of the program, saying Hyperliquid repurchases have accounted for nearly half of all token buyback activity across crypto this year by some measures. Citrini said Hyperliquid still has a wide runway and significant market share left to capture.

Hyperliquid has become one of the most closely watched decentralized perpetuals exchanges, with HYPE benefiting from rising trading activity, fee driven buybacks, and growing attention from institutional investors. Last week, HYPE briefly overtook Solana in price, though Solana’s market capitalization remains more than double HYPE’s.

Institutional interest has also expanded through Hyperliquid ETFs from Bitwise and 21Shares. The products have registered nearly $600 million in trading volume and more than $136 million in net inflows over three weeks.

Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.