Trade.xyz Buys 59,000 HYPE Tokens Using $3.25M Perpetual Fee Revenue

Trade.xyz deploys $3.25M from perpetual fees to acquire ~59,000 HYPE via TWAP, marking a second buyback event after an earlier HIP-3 Ticker purchase.

Woofun AI reports that Trade.xyz moved $3.25 million from its perpetual contract fee wallet to a spot account to initiate the purchase of approximately 59,000 HYPE tokens. The acquisition utilizes a TWAP strategy and is valued at roughly $3 million.

This follows an August 5 transaction where 250,000 USDC was transferred from the same fee source to buy 2,000 HYPE tokens for the HIP-3 Ticker. That prior event marked the first instance of using perpetual fee revenue for HYPE purchases, whereas previous HIP-3 Ticker acquisitions were funded by spot fee revenue.