Hyperliquid Buybacks Account for Major Share of 2025 Crypto Activity, Study Says

Hyperliquid has been described as a “compelling” investment by Citrini Research in its latest report.

The firm pointed to Hyperliquid’s fee structure as a key factor, noting that over 90% of platform fees are directed into an Assistance Fund. That fund is then used to repurchase the protocol’s HYPE on the open market.

Citrini Research also reported that, by certain metrics, these buybacks account for nearly half of all crypto token buyback activity in 2025. It further added that the protocol still has significant room to increase its market share.

Source: The Block