Can Hyperliquid (HYPE) Get Back to $90 by the End of 2026?

Hyperliquid (CRYPTO:HYPE) needs to gain 19.2% to climb back to the significant milestone of $90, a target many holders have set between its price and its record high of $98. The Hyperliquid price stands at approximately $76 as of October 24, 2026.

HYPE has decreased by 3% in the last 24 hours, 5.2% over the past week, and 17.1% over the last 30 days. This performance puts it about 22.9% below its peak on September 23.

In the past day, HYPE has traded between $75 and $79. On October 23, Hyperliquid Strategies, a public company that holds HYPE as its main treasury asset, expanded its stock buyback program, drawing renewed attention to the token.

HYPE Would Be Worth $20 Billion at $90

If HYPE reaches $90, its market capitalization would soar to around $20 billion. This figure is calculated by multiplying the token price by the total number of tokens in circulation. With 222.4 million HYPE available, a $90 price would mark a significant increase from its current market cap of about $16.8 billion, which places it 11th among cryptocurrencies.

However, there is a concern regarding supply dilution. HYPE’s total supply is 955.3 million, with a hard cap of 1 billion. This means about 77% of the tokens created are yet to be in circulation.

With all 955.3 million tokens counted, HYPE’s fully diluted valuation already reaches $72 billion and would rise to approximately $86 billion at a $90 price. To reach that price, HYPE would need new investment, making a $90 target in December harder than it was during the September run-up.

Still, HYPE shows strength over the longer term, up 107.1% over the past 200 days and 90.1% year-over-year, while Bitcoin (CRYPTO:BTC) has dropped 27.4% in the same timeframe. Bitcoin currently trades at $80,483, down 4.4% over the past month. HYPE’s larger decline than Bitcoin’s could indicate that a weak Bitcoin market in November and December would make it harder for HYPE to achieve the necessary 19.2% increase.

Hyperliquid’s Assistance Fund Supports HYPE Through Trading Fees

Hyperliquid operates a decentralized exchange that primarily offers perpetual futures tracking the price of various coins without expiry dates. The platform’s Assistance Fund collects trading fees and uses them to buy HYPE tokens on the open market, so a busier trading environment can lead to more automatic HYPE purchases.

Since early October, additional revenue from Hyperliquid’s USDC reserves has provided another source of capital for buying HYPE. Users keep about $8.2 billion deposited on the platform—known as total value locked—and HYPE has seen about $767 million in trading volume over the last 24 hours.

Despite these buybacks, HYPE has still lost value, dropping 17.1% over the past month as sellers and unlocked tokens have outpaced the Assistance Fund’s purchases since the September peak.

Hyperliquid Strategies Unveils $100 Million Buyback of Its Own Stock

Hyperliquid Strategies (NASDAQ:PURR), a digital asset treasury company that considers HYPE its core asset, raised its stock repurchase program to $100 million on October 23.

While this buyback focuses on the company’s stock rather than HYPE tokens directly, it can still indirectly benefit HYPE. When a company buys back its own shares, it has less incentive to sell HYPE to prop up its stock price, which could ease selling pressure on the token.

A webcast scheduled for November 5 will provide updates for the quarter ended September 30. Any announcements regarding HYPE holdings or new token purchases could influence market sentiment.

Can the Hyperliquid Price Hit $90 by the End of 2026?

HYPE seems unlikely to reach $90 by year-end, given the steep 19.2% climb, growing unlocked supply, and a 30-day downtrend. For HYPE to have a chance, it must first break $79, the top of its latest 24-hour range and about 4.2% higher. Additionally, the November 5 webcast needs to show Hyperliquid Strategies adding HYPE, and platform trading must pick up so the Assistance Fund’s purchases can outpace new supply.

If HYPE continues to trade below $79 after the November 5 webcast, reaching $90 will likely be postponed until 2027. Conversely, if it closes above $79 before then, the $90 target could become possible in December.

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