News about HYPE

Pump.fun, a leading meme coin launchpad on Solana, has launched perpetual futures that run on Hyperliquid's order books, and Pump.fun collects a builder fee on each trade. Hyperliquid uses part of its fee revenue to buy back HYPE, having repurchased $1.26 billion, but 778 million tokens still await circulation and could add selling pressure. The article says Solana gets no direct benefit, since Pump.fun trades match and settle on Hyperliquid, and SOL remains 65% below its all-time high. The product is not available in the U.S. or Ontario.