Hyperliquid Strategies has initiated a $30 million stock buyback program aimed at increasing its exposure to the HYPE token. The Nasdaq-listed company, which emerged from a SPAC merger, plans to execute this buyback over the next year. Hyperliquid holds a significant allocation of HYPE tokens, which it utilizes for staking and decentralized finance (DeFi) activities. The decision comes amid rising interest in altcoins, with HYPE gaining popularity among investors. On-chain data indicates a growing trend of investment in alternative cryptocurrencies, positioning HYPE as a notable asset in the market.