$HYPE Long position, unstoppable!

Forbes just published an article revealing the core truth behind the HYPE surge: it’s not the ETF expectations driving the rally, but the built-in buyback mechanism of Hyperliquid genuinely draining supply. Over 1.16 billion USD in trading fees are continuously thrown into the buyback pool, plus 99% of on-chain revenue is used for permanent token burns, with a total burn amount exceeding 45 million tokens since launch. The protocol itself is desperately buying, and this level of deflationary flywheel effect is a solid foundation that no new narrative can replace. I directly entered with a full position of 380,000 USD long!

1. Forbes’ analysis directly tears off the false narrative’s disguise, exposing the core value support on the table. The article clearly states that Hyperliquid almost all trading fee income is used for public market buybacks of HYPE through the Assistance Fund, with each transaction contributing fuel for buying. In contrast, initial ETF capital inflows were only in the tens of millions of dollars, while the protocol’s buyback scale can reach hundreds of millions of dollars per quarter, which is the strongest pillar for the current price. It does not rely on external sentiment, only on its own “self-sustaining + buyback” dual drive, meaning HYPE’s rise is endogenous and sustainable.

2. The pace of institutional entry has already surpassed the early flow rate of ETFs. From May 22 to 23, when Bitcoin net outflows reached 105 million USD, HYPE still recorded nearly 11 million USD in single-day inflows, a clear contrarian accumulation. Additionally, on May 20, two spot ETFs had a single-day net inflow of 25.5 million USD, setting a new record. Presto’s research director further revealed that, after adjusting for market cap, the speed of institutional capital flowing into HYPE ETF is even faster than that of Bitcoin ETF back then. This week, Grayscale again submitted a revised HYPE ETF S-1 document, fully opening the door for Wall Street giants through compliant channels.

3. Top-tier VCs have already completed bottom-position building, waiting for the main wave to take off. Since August last year, the venture capital giant a16z’s related addresses have been continuously accumulating, with a total holding of 5.93 million HYPE tokens, with an unrealized profit of over 86 million USD at current prices, most of which are pledged and locked, so there are hardly any tokens left on the market to dump. Plus, Bitwise directly uses 10% of management fees to buy and burn HYPE, and the USDC revenue-sharing protocol brings in hundreds of millions of dollars in buyback ammunition annually. The buying power of HYPE has already formed a tightly linked flywheel.

38,000 USD has been fully locked in, waiting for the protocol buyback, institutional snatching, and top VC locking waves to stack up, pushing HYPE into the next main wave!