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Hyperliquid surges 10% on $1.16B buybacks and rising ETF demand, sparking Binance flippening talks.

Market News
24 May 2026
BeInCrypto
View Source
Bullish
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Hyperliquid (HYPE) surged nearly 10% to above $63, driven by a $1.16 billion buyback program funded by trading fees and growing ETF inflows. This pushed its market cap over $15 billion and ranked it 11th globally, fueling speculation it could surpass Binance Coin (BNB) as the leading crypto token. Analysts highlight Hyperliquid's strong buyback mechanism and institutional interest as key factors, while noting its decentralized exchange trading volume now rivals major centralized platforms. The sustained buybacks and ETF demand underpin optimism about Hyperliquid's long-term growth and potential to challenge Binance's dominance.

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