Hyperliquid Accounts for Nearly Half of All Crypto Buybacks in 2025

Hyperliquid is responsible for nearly half of all token buybacks in the crypto market in 2025. That is according to a recent report by analysis firm Citrini Research, which describes the platform as an attractive investment with significant growth potential still ahead. The HYPE price currently stands at $62,20. up 0.9% in the past 24 hours.

Hyperliquid is available at OKX and Bybit.

Assistance Fund buys back HYPE en masse

What sets Hyperliquid apart from most other crypto projects is the presence of a structural buyback programme through the so-called Assistance Fund. More than 90% of all platform fees flow directly into this fund, which then uses the money to buy HYPE tokens on the open market. This mechanism is built into the protocol itself, making it independent of external decisions.

The scale of this programme is impressive. Since its launch in January 2025, cumulative purchases have already exceeded $2 billion. On an annualised basis, the buyback rate comes to roughly 7% of the token’s total market capitalisation. For comparison, Hyperliquid accounts for nearly half of all buyback activity in the entire crypto market this year, according to Citrini Research.

Billion dollars in tokens burned and more market share to be gained

In addition to the regular buybacks, the Hyperliquid Foundation is taking a step further. Via a validator vote, $1 billion in HYPE tokens held in the Assistance Fund are officially burned. From now on, all tokens that enter the fund are considered burned, structurally increasing the scarcity of HYPE.

Citrini Research also indicates that Hyperliquid is far from reaching its ceiling in terms of market share. The arrival of Hyperliquid ETFs, including a spot ETF from Bitwise (BHYP US), is drawing extra attention to the platform. In our Hyperliquid review, you can read more about how the platform works and what it has to offer.