HYPE, the token of the Hyperliquid platform, has become the most bullish cryptocurrency according to analyst sentiment, overtaking BTC and ETH in CryptoQuant’s ranking. This position is mainly explained by its tokenomics system, which uses a portion of the fees generated on the platform to repurchase HYPE tokens on the open market. HYPE currently trades around $80, down 18% from its all-time high of nearly $100 reached earlier this year. An anonymous investor reportedly made a potential profit of approximately $20 million by buying tokens at around $3.50 in late 2024 and transferring them to Kraken recently. However, some analysts warn against the risk of overheating when sentiment becomes overwhelmingly positive.
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