Hyperliquid (HYPE) Nearing Record Highs, Can Buybacks Sustain the Rally?

Updated

October 31, 2025

Gambar Hyperliquid (HYPE) Nearing Record Highs, Can Buybacks Sustain the Rally?

Jakarta, Pintu News – Bitget Wallet’s integration with HyperEVM, a smart contract layer compatible with Ethereum and driving the Hyperliquid Layer-1 blockchain, has sparked strong momentum in the DeFi sector.

HyperEVM Integration and Its Impact

With this integration, Bitget Wallet not only expands its reach but also increases functionality and ease of use for its users. This access given to over 80 million users allows them to engage directly with the various financial features offered by Hyperliquid. This includes deep onchain liquidity, which is crucial for efficient and fast financial transactions.

In addition, with the cross-chain transfer feature, users can easily make transactions between various blockchains. This not only increases flexibility but also expands the potential use of Bitget Wallet in the digital finance ecosystem. This transformation makes Bitget Wallet one of the major players in the DeFi world, especially in terms of staking and governance of the $HYPE token.

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Market Dynamics and Price Action of Hyperliquid (HYPE)

With over 80 million users, access to onchain liquidity, programmable financial features, and cross-chain transfers has never been easier. This move turns Bitget Wallet into the ultimate gateway for $HYPE token utility, staking, and governance.

Since mid-October, Hyperliquid (HYPE) has experienced an impressive rebound of 110% and is now trading in the $47-$49 range. This is close to the previous record high of $59. This bullish structure has been followed by an increase in on-chain volume and staking rewards that have reached over $90 million this month.

Technical indicators point to a classic bull flag formation, with analysts projecting a breakout towards the $52-$55 zone if momentum above $48 can be sustained. The Money Flow Index (MFI) remaining high at 63 indicates that inflows and investor confidence are still strong. However, failure to break resistance could trigger a short-term retracement towards $44 support before the next leg up.

Buybacks and On-Chain Revenue as Drivers of Long-term Strength

Hyperliquid not only excels in price action, but also in fundamentals. In the past 30 days, the project has generated more than $111 million from fees, placing it third among all DeFi protocols by revenue. The new $644 million Buyback Program has also reduced the circulating supply to 336 million HYPE, providing strong tokenomic support for long-term holders.

In addition, the HIP-3 upgrade that enables new perpetuity markets through HYPE stakes attracts institutional builders and tokenized futures products. With cumulative trading volumes reaching $1.5 trillion and dominance in decentralized derivatives, the Hyperliquid ecosystem continues to thrive despite increasing competition from Binance-backed Aster.

Conclusion

If the bullish momentum continues and HyperEVM adoption accelerates, analysts suggest that HYPE could reclaim $55 and test new records above $60 in the coming weeks. This would cement Hyperliquid’s reputation as one of the most profitable and innovative DeFi ecosystems.

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