Hyperliquid’s token buyback program has helped push HYPE to record highs, but the revenue supporting those purchases may face increasing pressure, according to Alice Liu of CoinMarketCap, as reported by Cointelegraph. Liu identified Binance as a potential threat to Hyperliquid’s revenue stream, which is used to fund the buybacks. The warning puts attention on the link between Hyperliquid’s operating revenue, its token-purchase activity and HYPE’s market performance. While the buybacks have contributed to the token’s rise to all-time highs, any challenge to the underlying revenue source could affect the mechanism supporting that demand. The report does not specify how or when Binance could affect Hyperliquid’s revenue, leaving the potential impact on HYPE uncertain. Market participants tracking Hyperliquid may therefore focus on revenue developments and the sustainability of the buyback program alongside the token’s price performance.
