Citrini classifies HYPE as an "Attractive" investment target, stating that Hyperliquid accounts for nearly half of the 2025 crypto token buyback

BlockBeats News, June 9th, Citrini Research, the organization behind the "AI Doomsday Report," has listed the decentralized perpetual contract trading platform Hyperliquid and its token HYPE as a new "attractive" investment target. In the report, Citrini Research stated: "Unlike most narrative-dependent assets in the crypto market, including Bitcoin, HYPE can generate real cash flow. Additionally, it even has a buyback mechanism."

The report stated that Hyperliquid has generated approximately $10.6 billion in annualized revenue, with a 30-day perpetual contract trading volume of around $220 billion. Over 90% of the platform's revenue is transferred to the Assistance Fund and systematically used to buy HYPE on the open market. Since its launch in January 2025, the Assistance Fund has accumulated over $2 billion in HYPE purchases, accounting for about half of all token buyback activities in the crypto industry last year.

Hyperliquid has become a leading platform in decentralized perpetual contract trading, and the investment logic for HYPE is increasingly tied to the platform's trading volume and revenue. However, some analysts believe that this buyback model heavily relies on sustained trading activity and may face pressure if derivative trading volumes decline. Additionally, the U.S. Commodity Futures Trading Commission (CFTC) provided an open pathway under the U.S. regulatory framework for some crypto perpetual contract products last month, and exchanges like Coinbase and Kraken are actively expanding into this market.