Key facts
- Hyperliquid Assistance Fund has bought over 48 million HYPE tokens for $1.36 billion.
- The current market value of these holdings is approximately $3.95 billion.
- Acquired tokens are treated as burned, permanently removing them from circulating and total supply.
- HYPE's total supply is now 955.30 million tokens.
- Hyperliquid received its first AQAv2 payment of nearly $14.58 million in USDC in early October.
The Hyperliquid Assistance Fund has cumulatively acquired more than 48 million HYPE tokens, representing an investment of $1.36 billion. As of Tuesday, these holdings are valued at approximately $3.95 billion. The fund primarily sources its HYPE tokens through continuous open-market buybacks, funded by Hyperliquid's trading fee revenue and USDC reserve yields generated via its Aligned Quote Asset v2 (AQAv2) framework. The first USDC payment to the fund, amounting to nearly $14.58 million, was received in early October. Tokens bought back through this mechanism are permanently burned, reducing both the circulating and total supply of HYPE. The total supply of HYPE is now 955.30 million tokens. This increased buyback funding is expected to add hundreds of millions of dollars in annual capacity. Separately, Hyperliquid recently launched a manual borrows feature allowing HYPE and Bitcoin to be used as collateral for borrowing assets like USDC and USDT. HYPE was trading around $81.20, down nearly 5% in the last 24 hours amid broader crypto market volatility. Trading volume for HYPE surged by over 59% in the same period, reaching $931,562,652. The total HYPE futures open interest dropped 2% to $3.17 in an hour, though futures open interest on Binance and OKX saw increases.