Hyperliquid, a prominent decentralized exchange, has reported over $13 billion in annualized revenue, with 97% of fees directed towards HYPE token buybacks. The buyback fund has already spent more than $600 million, maintaining a significant token reserve. Analysts predict HYPE token prices could range from $45 to $180, depending on market conditions. The platform's dual revenue model, combining perpetual trading fees and HyperEVM gas, exerts deflationary pressure on the HYPE token supply, potentially influencing future price movements.