A wallet linked to Hyperliquid Strategies bought another 494,200 HYPE worth $45.8 million over 16 hours, bringing its purchases over the past month to 5.51 million tokens valued at roughly $476 million. Hyperliquid Strategies holds about 35.1 million HYPE worth approximately $3.2 billion, extending a treasury-building campaign as the token retreated from its $97.99 record. Potential supply has also drawn attention: Multicoin Capital transferred 130,331 HYPE worth $12.15 million to Coinbase Prime, while five large addresses began native unstaking of 983,600 HYPE worth about $90.44 million. The tokens being unstaked cannot be transferred until the seven-day waiting period ends around Oct. 1, and neither the unstaking nor Coinbase Prime deposit confirms a sale. Hyperliquid's Assistance Fund continues to support demand by directing 97% of protocol trading fees to HYPE purchases.