The native token of Hyperliquid (HYPE) hit a new all-time high, reaching $50 for the first time and rising 8% in 24 hours. HYPE is up 430% since April and 15x since late November, now dominating DeFi derivatives with $30B processed daily. The exchange recorded $357B in August derivatives volume, up from $319B in July, and set a record with spot trading volumes surpassing $3B. Hyperliquid generated $105M in trading fees in August, with earnings used to buy back tokens and reduce circulating supply. The token’s FDV is over $50B with a market cap of $16.8B.

Read more at Yahoo Finance: Hyperliquid’s HYPE Hits Record High Above $50 on Trading Boom, Token Buybacks