Team payouts and staking pay outrun a nonstop buyback.
HYPE runs Hyperliquid, a trading exchange: 222.45M coins circulate. Stakers earn new HYPE, the team is paid once a month, and trading fees buy HYPE back.
Sell pressure. The team paid out 4.62M HYPE in 90 days, 3.75M of it in one private sale on Oct 7 2026. Stakers earned 0.75M new HYPE that reached the market, and the Foundation sent out 0.1M.
Buy pressure. A fund with no key spends almost all fees on HYPE and never sells: 2.18M HYPE this window, now with reserve interest added.
Net. Net, supply grows about 1.48% in 90 days, and about the same next.
Stakers are paid in new HYPE from a reserve of 410.85M that was set aside at launch. With 440.05M HYPE staked the pay is about 2.2% a year, roughly 2.43M new HYPE every 90 days. Most of it stays out of the market: the team's locked wallet earned 1.31M and kept it staked (it counts when the team pays out, row 2), and the Hyper Foundation, the grants wallet and the Foundation's validators took about 377,000. The other 748,350 HYPE went to outside stakers.
The team's 23.8% share sits in one wallet, staked, and is paid out once a month. In these 90 days it paid out 433,025 HYPE on Aug 6, 433,416 on Sep 6 and 3.75M on Oct 7 2026 — the October batch was sold to an outside buyer in a private deal, spread over five wallets. The paper schedule allows much more than this each month. We expect three more payouts by early January, on about the same scale as these three.
The Hyper Foundation holds 60.55M HYPE, nearly all staked, and sent out 50,000 on Aug 4 and 50,000 on Aug 31 2026; the community grants wallet holds 2.97M and sent out 4,498 in small grants. Neither is part of the 222.45M circulating, so these 104,498 HYPE are new supply; the Foundation has sent coins out every few months since March, so we expect about the same next. Other tracked overhangs: the team wallet still holds 237.90M HYPE (row 2), and the buyback fund holds 47.95M HYPE with no key and has never sent any out.
No bankruptcy estate, trustee or long lock holds HYPE. Funds and listed companies that hold HYPE bought it in the market or from the team's sales, so those coins are already counted above or in the float.
Almost all trading fees go to a fund with no key that buys HYPE every day and never sells; validators voted to treat its coins as burned. It held 45.78M HYPE on Jul 13 and 47.95M on Oct 11 2026. Since Oct 4 2026 it also gets most of the interest earned on the exchange's dollar reserves — the first payment was $14.58M. At today's price the next 90 days buy about 2.13M HYPE.
Some fees are destroyed outright — 1.13M HYPE since launch. Over 15 minutes we saw total supply fall at several hundred HYPE a day, but we could not confirm the 90-day total a second way, so we book 0 for now. Either way it is small next to the buyback.
Neither the Hyper Foundation nor the team bought HYPE in this window; the buying is done by the buyback fund in row 1.
440.05M HYPE is staked, but unstaking takes only 7 days and staked coins still count as circulating, so staking takes nothing out of the float.
Two sides: how much people want HYPE right now, and how much buying could come later.
This part is based on social media. It shows how hot HYPE is right now. A better rank means more people are talking about it.
Today, people are talking about HYPE for two reasons:
On Sep 30 2026 a Hyperliquid co-founder said the team's October payout, 3.75M HYPE worth about $330 million, was sold in a private deal to one institution instead of on the open market. The coins left the team wallet on Oct 7 2026 and landed in five wallets of 750,000 each. People ask who the buyer is and whether those coins will be sold later.
On Oct 4 2026 the buyback fund received its first $14.58 million from interest on the dollars users keep on Hyperliquid, on top of trading fees, and spent it on HYPE within days. People ask how much this adds each month, with the next payment due in about 30 days.
Checked Oct 11 2026
Supply and demand point to a mixed long-run signal for Hyperliquid (Oct 11 2026, score 6.5/10). Hyperliquid adds +1.51% new supply in 90 days, and demand reads very strong (4.5/5). Hyperliquid's price drivers: 2 ▲ price up, 0 ▼ price down.
Mostly steady buying from one big holder. A treasury company now owns 12.7% of the HYPE in the market and added 4.9M HYPE in the last 30 days. Demand looks very strong at 4.5/5, while new supply is only +0.13% in the next 90 days. For Hyperliquid, the supply-and-demand signal is mixed right now.
No, it looks very much alive. On Oct 11 2026 HYPE was worth about $19.0B in total, near $85 a coin, and scored 8.5/10 on our framework. The foundation's vote share also fell from 81% to 47%, below the 67% a vote needs. By supply and demand, Hyperliquid's long-run signal is mixed today.
Hyperliquid trades near $85.1 (Oct 11 2026). $1,000 a coin means a $222B market cap, 12 times today's $18.9B. Hyperliquid's supply also grows +6.06% in the next year, so every extra coin needs buyers too. That leaves Hyperliquid's long-run signal at mixed, by supply and demand.
We would read Hyperliquid differently if new supply keeps arriving (+1.51% in 90 days), or demand falls from very strong. Until then Hyperliquid's signal stays mixed.
Hyperliquid scores 6.5/10 on our framework (Oct 11 2026): supply 2/5 (growing), demand 4.5/5. Over the next year Hyperliquid's supply changes +6.06%. The long-run signal is mixed.
Supply and demand favor Hyperliquid most when little new supply is coming, demand is strong and the price drivers point up. Right now Hyperliquid has +1.51% new supply in 90 days (growing), demand very strong (4.5/5), drivers 2 ▲ / 0 ▼.
Hyperliquid's price drivers today: 2 pointing up, 0 pointing down, out of 2. ▲ Treasury company: Owns 12.7% of HYPE in the market; +4.9M HYPE in 30 days. ▲ Foundation votes: Foundation's share fell from 81% to 47%; votes need 67%.
Hyperliquid: mixed signal, 6.5/10 · Bitcoin: positive signal, 8.5/10 (Oct 11 2026). By supply and demand, Hyperliquid reads weaker than Bitcoin today.
Every answer here applies basic economic theory — the law of supply and demand — to this coin's data. It is not financial advice. How we read every coin →
We look at two things, half each: supply and demand. Fewer new coins mean less selling pressure. A meme coin scores 1.5 at most on supply: its team got its coins for free, so no new supply does not make it safe. We also show each coin's age, with a warning when it is younger than 1 year. Demand looks at how much people want the coin now and how much buying could come later. Price Drivers (Beta) are the 2 or 3 things that can move one coin's price that supply and demand miss; they have no score. HYPE supply grows +1.51% in the next 90 days, so it shows in red: more HYPE reaches the market than is removed. Zero or falling supply is always green, any growth is red.
One email before each big supply event, and the day our verdict changes. Nothing else. You can watch 2 coins for free.
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