Gmeow. This week was another bullish week for the future of Hyperliquid with a major listing, massive buybacks, and HIP-3 burning, which is hitting ATH after ATH. $HYPE is the big winner of volatility. Here is the complete summary.

1. Listing and New ATH

Last week, we saw that Coinbase announced the addition of HYPE to its listings, which was supposed to happen this month. It's already a done deal: HYPE is available on Coinbase. HYPE reached new ATHs against all major cryptocurrencies, namely $BTC, $ETH, $XRP and of course $SOL. The ATH occurred mainly because of these cryptocurrencies and not because HYPE's rise in price, but because it remained very resilient while all other cryptocurrencies were falling.

2. Buybacks & Burns: Assistance Fund on the Rise

  • $2.5 million worth of $HYPE bought back in 24 hours by the Assistance Fund (highest daily amount since October 31).
  • Trove Markets raises $20M to buy 500K $HYPE for lunch their HIP-3.
  • Total $HYPE repurchased and permanently burned and reached over 0.5 million $HYPE.
  • Cumulative fees processed on the platform: more than $1,042 billion ($1,042,038,221).

3. HIP-3 Record-Breaking Day

On February 1, HIP-3 posted its biggest day ever with $5.21 billion in volume:

  • 300,000+ users
  • $55 billion in total volume
  • 25 million to deployers and $6 million to the Assistance Fund

HIP-3 is clearly becoming one of the most powerful products in the ecosystem with real traction.

4. Major Product Updates

  • Unified Account Mode: will soon be enabled by default for all new users (opt-in pages merged in one account). Existing users remain unaffected (progressive rollout). This reduces friction and enhances the user experience.
  • HIP-3 is a new feature announced by the team, which will enable options trading on Hyperliquid within a predefined range of values. They are a useful primitive since they, particularly the ability to create leveraged and financial instruments similar to blended options.

5. Ecosystem is Building

  • The HyperFund has occurred more than 10% of the total supply after spending more than $740,000 in the buyback of $HYPE. Currently, they are accelerating the pace of their future removal, which should accelerate the burning of the supply.
  • Builders code generates a lot of revenue. Builders are able to directly use Hyperliquid's liquidity and technology and skip exchange hours, after hedging everything fully on-chain for total transparency.
  • The $BASED token announced by TGE and tokenomics, with $BASED set to launch in March. The tokenomics have been shared, including: 30% during the TGE, of which 22.5% for the airdrop, 7.5% for the Hyness community.