TradeXYZ has made its first HYPE token purchase using revenue from perpetual futures trading fees, according to MLM monitoring. Two days ago, the platform moved 250,000 USDC from its perps fee wallet to a spot wallet and bought roughly 2,000 HYPE worth about $110,000, which was then used to buy into a HIP-3 trading pair. New data shows TradeXYZ transferred another 500,000 USDC to the spot wallet and began buying about 9,000 HYPE, valued at roughly $500,000, through a time-weighted average price (TWAP) strategy. Previously, HYPE used to acquire new HIP-3 trading pairs came mainly from spot trading fee income; this is the first time perpetual futures fee income has been used for such purchases. The combined outlay across the two transactions is approximately $610,000.
TradeXYZ's fee-receiving wallet has, for the first time, used revenue from perpetual futures (Perps) trading fees to buy HYPE tokens, according to MLM monitoring.
Two days ago, TradeXYZ transferred 250,000 USDC from its perps fee wallet—which accumulates Perps trading fees—to a spot wallet and purchased about 2,000 HYPE, worth roughly $110,000. That HYPE was subsequently used to purchase a HIP-3 trading pair.
The latest data shows TradeXYZ has again moved 500,000 USDC into the spot wallet and has started buying approximately 9,000 HYPE, valued at about $500,000, via a time-weighted average price (TWAP) strategy.
Previously, the HYPE used to buy new HIP-3 trading pairs was funded mainly by spot trading fee income. This time, however, marks the first instance where perpetual futures fee income has been deployed to buy HYPE. The two purchases together amount to roughly $610,000.
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