The TradeXYZ fee recipient wallet transferred 250K USDC from its perps fee wallet (where perp fees accrue) to spot two days ago and used it to buy 2K HYPE (~$110K), which was then used to purchase HIP-3 tickers.
https://hypurrscan.io/address/0x9cd0a696c7cbb9d44de99268194cb08e5684e5fe
https://hypurrscan.io/address/0x7d16f116d252db609c56d27d6c9605eb03e16657
They have now transferred another $500K to spot and started TWAP-buying roughly 9K HYPE (~$500K).
This is the first time they've used perps fee revenue to buy HYPE. Previously, the HYPE used to purchase new HIP-3 tickers was funded using spot fee revenue instead.
Forwarded fromMlm onchain
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3August 6, 2026 1.7K 6
