Hyperliquid’s native cryptocurrency, HYPE, has become one of the strongest performers in the crypto markets over the past few weeks. Just today, it exploded to a fresh all-time high above $73.
The move comes amid a broader wave of institutional interest, strong ETF inflows, and continued momentum in the platform’s position as a leading on-chain derivatives ecosystem.
HYPE Hits New Record After 20% Weekly Rally
HYPE has extended its impressive uptrend over the last 24 hours, climbing more than 5% and pushing above $73 to mark a new all-time high at the time of this writing.
The latest move caps a very powerful five-day rally for the cryptocurrency. HYPE had already been gaining traction last week (and the weeks before that) as buyers defended higher lows and pushed the token through several key resistance zones.
Over the past seven days, it has increased by more than 20%, while its 30-day gains have reached more than 75%.
This has pushed HYPE into the top 10 by market cap, allowing it to surpass the likes of DOGE.
ETF Inflows and Grayscale Buzz Fuel the Rally
Beyond improving fundamentals and overall trading volume, another major reason for the rally appears to be the growing demand for HYPE-linked exchange-traded products.
According to data from SoSoValue, US spot HYPE ETFs recorded more than $9 million in one-day net inflows on May 29th, bringing total net assets above $135 million.
Grayscale has also added another layer to the bullish narrative. The asset manager is reportedly in talks with Hyper Holdings Global LP for a seed investment of approximately 2 million HYPE tokens, which are currently worth well over $140 million, for its proposed Grayscale Hyperliquid Staking ETF.
The fund itself is expected to trade on Nasdaq under the ticker HYPG, which further strengthens expectations that institutional access to HYPE could continue growing.
The post Hyperliquid’s HYPE Price Soars to New ATH Above $73: Here’s Why appeared first on CryptoPotato.
