BlockBeats News, August 7th, according to MLM Monitor, the Trade.xyz fee collection wallet transferred $3.25 million from its perpetual contract fee wallet to its spot account, and started to buy approximately 59,000 HYPE tokens through a TWAP strategy, worth around $3 million.

Earlier, on August 5th, Trade.xyz transferred 250,000 USDC from the perpetual contract fee wallet to the spot account and used around $110,000 to buy 2,000 HYPE tokens, which were then used to purchase the HIP-3 Ticker. This was the first time Trade.xyz used perpetual contract fee revenue to buy HYPE. Previously, the HYPE used to purchase the new HIP-3 Ticker was funded by spot fee revenue.