TradeXYZ Uses Perps Fees to Purchase $610,000 Worth of $HYPE

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TradeXYZ has allocated Perps fees to purchase HYPE tokens, taking into account the risk-to-reward ratio. The exchange transferred 250,000 USDC from its Perps fee wallet to a spot wallet, acquiring approximately 2,000 HYPE tokens valued at $110,000. It later added 500,000 USDC and employed a TWAP strategy to purchase around 9,000 HYPE tokens worth $500,000. This marks the first time technical analysis in crypto has influenced such a decision, as previous HYPE purchases were funded by spot trading fees.

Odaily Planet Daily reports that, according to MLM monitoring, TradeXYZ has for the first time used perpetual contract (Perps) fee income to purchase HYPE tokens. Two days ago, TradeXYZ transferred 250,000 USDC from its Perps fee wallet (used to accumulate Perps trading fees) to its spot wallet and bought approximately 2,000 HYPE tokens, valued at around $110,000. Subsequently, these HYPE tokens were used to purchase the HIP-3 trading pair.

Latest data shows that TradeXYZ has again transferred 500,000 USDC to its spot wallet and begun consistently purchasing approximately 9,000 HYPE tokens, valued at around $500,000, using a TWAP (Time-Weighted Average Price) strategy. Previously, HYPE funds used to purchase the new HIP-3 trading pair were primarily sourced from spot trading fee revenue; this marks the first time perpetual contract fee revenue has been used to buy HYPE.

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