The main growth driver behind $HYPE in recent days has been increasing market attention toward a multi-billion-dollar buyback program (set to begin rollout this quarter), alongside the rapidly expanding ecosystem on Hyperliquid. Whale-driven volatility: The market is witnessing a fierce tug-of-war between large investors. A notable example is a major holder (reportedly linked to Arthur Hayes’ wallet) depositing millions of dollars worth of $HYPE onto exchanges. At the same time, several whales have been observed taking profits or opening short positions as the price hits new highs. Institutional capital inflow: Fund data shows continued inflows into related ETF products, signaling sustained and growing interest from institutional investors. #HYPEShortSqueeze $HYPE