Citrini Research has singled out Hyperliquid’s HYPE token as a crypto asset with a cash-flow profile that separates it from what the firm calls the “memetic majority” of the market. In its June 2026 “State of the Themes” report, the research firm argued that HYPE’s fee-driven buyback structure, expanding Assistance Fund and emerging ETF narrative make Hyperliquid one of the more compelling crypto market-structure stories now reaching Wall Street’s radar.
Hyperliquid Gains Wall Street Attention
The core of Citrini’s thesis is straightforward: HYPE is not being framed merely as a speculative exchange token, but as an asset tied to recurring platform economics. “This is what makes HYPE compelling — unlike the memetic majority of crypto (bitcoin included), HYPE generates legitimate cash flow,” the firm wrote.
That cash flow, according to Citrini, is reinforced by a protocol-level repurchase mechanism. The report said more than 90% of the fees generated by
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