HYPE Buy Pressure Could Explode as HyperEVM Climbs to No. 3

HyperEVM ranks No. 3 globally with $5.93B in USDC as HYPE buybacks and whale withdrawals draw market attention.

HyperEVM has reached the third position globally for USDC liquidity, according to the figures provided, placing the network behind Ethereum and Solana.

The data shows Ethereum holding about $47.82 billion in USDC, while Solana holds around $7.27 billion and HyperEVM holds about $5.93 billion.

The ranking places HyperEVM ahead of several established blockchain networks, including Base, Arbitrum, Polygon, and BSC, based on the same reported USDC comparison.

The rise in stablecoin liquidity has drawn attention to HYPE, as on-chain activity also shows large withdrawals from major custody and exchange platforms.

HyperEVM Gains Ground in USDC Liquidity

HyperEVM’s rise shows growing stablecoin activity across the network. USDC liquidity is often used for trading, lending, payments, and DeFi activity.

In addition, large USDC balances can support deeper markets across decentralized applications. This may help users move funds with fewer price gaps during active trading periods.

However, the ranking depends on the reported data and can change with market flows. Stablecoin balances often move between chains as users seek trading access and yield.

The reported $5.93 billion figure places HyperEVM near Solana in USDC terms. That gap remains wide, but the chain has passed several older networks.

Daily HYPE Buybacks Draw Market Attention

HyperEVM’s protocol design has also drawn attention from HYPE traders. About 90% of USDC yield is said to flow into daily HYPE buybacks.

Therefore, continued USDC activity could create regular demand for the token. The size of that demand depends on yield levels and market liquidity.

Buybacks usually involve buying tokens from the open market or related venues. This can reduce available supply when purchases are steady and large enough.

Still, buybacks do not guarantee price gains for HYPE. Market direction also depends on trading volume, broader crypto prices, and holder behavior.

For now, traders are watching whether USDC balances remain near current levels. A decline in liquidity could reduce the amount available for future buybacks.

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Whale Wallets Move Millions in HYPE

On-chain activity has added another layer of market focus around HYPE. A new wallet, labeled 0x987f, reportedly withdrew 278,827 HYPE from Coinbase Prime.

The transfer was valued at about $17.45 million when reported. Such withdrawals are often watched because they may show long-term holding plans.

Meanwhile, another wallet, labeled 0x2386, withdrew 96,930 HYPE from BitGo. The reported value of that transfer was about $6.01 million.

That wallet had been inactive for nearly one month before the latest move. As a result, the transfer received attention from traders tracking larger holders.

Together, these wallet moves show renewed activity around HYPE. However, withdrawals alone do not confirm future buying, selling, or price direction.

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