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BitMEX co-founder Arthur Hayes said he is currently buying only Hyperliquid’s HYPE token, citing strong gains and rising trading activity. HYPE rose about 9% in the past 24 hours and has gained nearly 60% since the start of the year, following Hayes’ public comment that “the only thing we’re buying right now is HYPE.”
Hayes described HYPE as a highly bullish bet tied to Hyperliquid’s growth. He pointed to the platform’s trading-fee generation of around $1 billion annually and said Hyperliquid uses 97%–99% of fees to buy back HYPE tokens, a mechanism intended to support the token’s price.
He also argued that no other crypto project returns value to token holders to the same extent, and noted that Hyperliquid’s approach includes a buyback and burn plan.
Hayes’ comments were accompanied by other reported purchases of HYPE. The Hyperliquid Assistance Fund bought 39,000 HYPE for $1.4 million at around $36.88.
On April 7, 2026, the fund reportedly held 42.99 million HYPE, purchased for about $1.04 billion, with an average price of about $24.3. The activity was described as part of Hyperliquid’s buyback and burn plan.
HyperCore was also reported to be buying HYPE in smaller amounts, typically between $1.5 million and $1.7 million. In addition, a whale identified as “yeti.hl” bought 58,884 HYPE worth $2.19 million at around $37.21 per token.
After Hayes’ statement, HYPE recorded a sharp move and was trading around $39, up nearly 9% over the past 24 hours. Over a longer window, the token is up nearly 60% since the start of the year.
The report also said trading volume jumped by 75%, reaching around $320 million in just 24 hours, indicating increased activity on Hyperliquid.
This is not the first time Hayes has expressed a bullish view on HYPE. Last month, he predicted the token could rise to $150 by August 2026.
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