Hyperliquid (HYPE) advanced to a fresh intraday peak of $84.80 on Thursday, marking a second all-time high within a week, and traded near $84.07 as its market capitalization approached $19 billion.

The surge followed a breakout past $77, and is linked to the AQAv2 reserve yield program directing about 90% of cost-adjusted yield generated from $6.74 billion of USDC deposits back into HYPE buybacks, BeInCrypto reported, with the first distributions slated for Oct. 3.

Separately, President Donald Trump said on Aug. 20 that Hyperliquid could be available in the United States soon, with the CFTC working on a compliant pathway. Spot HYPE ETFs also saw renewed inflows, and traders monitor $92.37 as the next resistance and $68 as a key support.