Multicoin Capital has put more than $100 million into Hyperliquid's native HYPE token, one of the fund's largest positions. The bet targets Hyperliquid's fee-driven buyback model, where revenue from its decentralized perpetual futures exchange funds token repurchases.
Multicoin Capital has invested over $100 million in Hyperliquid's HYPE token, part of its strategic allocation to high-potential blockchain ventures. The fund has been building the position since February, and it now ranks among Multicoin's largest holdings.
Hyperliquid is a Layer 1 blockchain running a decentralized perpetual futures exchange. It aims to generate real cash flow through a model that directs trading fee revenue toward buying back HYPE tokens, and Multicoin's investment underscores institutional confidence in that business model.
Market participants are watching for further developments from Hyperliquid, including potential partnerships and expansions that could shape price expectations. Any regulatory changes affecting its operations could also move sentiment.
Source: Crypto Briefing
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