Influential research firm that caused AI stock meltdown lays out Hyperliquid as 'compelling' idea

Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Influential research firm that caused AI stock meltdown lays out Hyperliquid as compelling idea Unlike most crypto, Hyperliquid actually generates cash flow and has a token buyback mechanism, says Citrini Research By Aoyon Ashraf , Helene Braun | Edited by Stephen Alpher Jun 8, 2026, 6:41 p.m. 2 min read Make preferred on Hype hyped by Citrini (Getty images) What to know : Citrini Research, the firm that helped spark February’s AI-driven market scare, has named crypto exchange Hyperliquid and its HYPE token as a new “compelling” investment idea. Hyperliquid, a leading decentralized platform for perpetual futures, has generated about $1.06 billion in annualized fees, with more than 90% of fees funneled into a buyback fund that has purchased over $2 billion of HYPE since January 2025. HYPE’s value is increasingly tied to Hyperliquid’s trading volumes and revenue, even as U.S. regulators such as the CFTC begin opening the door to crypto perpetual futures products that major exchanges like Coinbase and Kraken are racing to offer. Citrini Research, the firm that sparked massive fear of an artificial intelligence bubble in February and triggered a brief market meltdown, has listed crypto exchange Hyperliquid and its token as a new "compelling" idea.