Points clés
- Andrew Tate moved $1.87 million as Hyperliquid (HYPE) crypto weakened.
- HYPE price slipped below $88 during the latest market session.
- Hyperliquid buybacks continue creating systematic demand for HYPE.
Andrew Tate moved 20,950 HYPE tokens worth about $1.87 million to Binance on Oct. 3. The transfer came as Hyperliquid crypto traded near $87.87 after weakening over 24 hours.
Lookonchain linked the transaction to Tate’s tracked wallet and reported a large paper gain. The transfer mattered because exchange deposits can increase available supply without confirming a sale.
Andrew Tate Transfer Lands as HYPE Price Slips
CoinMarketCap montrent showed HYPE price near $87.87 on Oct. 3. The token had fallen about 2.7% over 24 hours when the provider updated its data.
The move extended a volatile week for HYPE. CoinMarketCap recorded reference prices near $90.93 on Sept. 30 and $87.71 on Oct. 1.
HYPE then traded around $89.21 on Oct. 2 before slipping again. That left the token below the low-$90 area that capped recent advances.
Lookonchain said Tate deposited 20,950 HYPE into Binance. The tracker valued the transaction near $1.87 million when it published the wallet update.
The same tracker said Tate acquired 122,827 HYPE for roughly $550,000. It placed his average purchase price near $4.48 per token.
Lookonchain estimated the wallet’s total HYPE profit at $7.24 million. That represented a reported return of 1,317% based on its transaction history and valuations.
The deposit did not establish a sale. Tokens sent to Binance can remain deposited, support collateral positions, or later enter spot markets.
Hyperliquid Crypto Holds Above Recent Support
Recent CoinMarketCap data placed visible HYPE price support around the mid-$80 range. HYPE traded near $86.05 on Sept. 29 before recovering above $90.
The same seven-day data placed nearby resistance around $91 to $92. HYPE traded near $91.71 on Sept. 27, then failed to hold that area.
That structure left the token inside a recent trading range. A move below the mid-$80 area would weaken that range.
Recovery above the low-$90 zone would return HYPE toward recent weekly highs. Traders would still require follow-through before treating that move as a confirmed breakout.
The Tate transaction also created a short-term supply consideration. Binance deposits place tokens closer to centralized exchange liquidity without revealing the holder’s intent.
Hyperliquid Crypto Buybacks Add a Demand Counterweight
Hyperliquid documentation states that protocol fees flow toward community mechanisms, which include its Assistance Fund. The fund automatically converts eligible trading-fee proceeds into HYPE through Layer-1 execution.
Hyperliquid said HYPE accumulated by the Assistance Fund gets burned permanently. That process removes purchased tokens from circulating and total supply.
The protocol also said annualized fees exceeded $1 billion. Its documentation links those fees to programmatic HYPE purchases, tying activity directly to token demand.
A separate reserve-yield mechanism added another source of potential buyback funding. HL Eco data on Oct. 3 showed 14.58 million USDC awaiting transfer toward the Assistance Fund.
The payment came from Hyperliquid’s USDC reserve-yield framework. Once transferred, those funds can support additional HYPE purchases under the protocol’s buyback structure.
This funding source differs from trading-fee revenue because it depends on reserve balances and yield generation. That distinction reduces reliance on trading activity alone.
Bitwise Chief Investment Officer Matt Hougan linked Hyperliquid’s fee model to HYPE valuation in May. His analysis focused on revenue, token purchases, and platform usage.
Multicoin Capital presented a similar thesis in June. Spencer Applebaum, Shayon Sengupta, and Tushar Jain said HYPE was a major liquid-fund position.
Their report tied valuation to trading activity, market share, and financial infrastructure. Multicoin disclosed its HYPE exposure, creating a direct financial interest in that thesis.
HYPE Price Faces $85 Support and $92 Resistance
The next immediate HYPE price test sits around the recent mid-$80 support area. CoinMarketCap data showed buyers previously returning after declines toward that zone.
On the upside, the $91 to $92 region remains the nearest observable resistance area. A sustained move through it would place HYPE above recent reference levels.
Market participants will also track Tate’s wallet for additional exchange transfers. Lookonchain reported that the wallet still held 63,550 HYPE after the Binance deposit.
Future Assistance Fund purchases remain another measurable catalyst. Hyperliquid’s automated mechanism continues converting eligible revenue into HYPE before permanently burning those tokens.
L’article Andrew Tate Moves $1.87M HYPE as Hyperliquid Crypto Price Slips est apparu en premier sur The Coin Republic.
Rupam Roy 
