Hyperliquid has surged to a fresh all-time high above $64 on Tuesday as HYPE ETFs attract strong inflows and the exchange expands into prediction markets under its HIP-4 upgrade. According to data from crypto.
Bitwise overtook rivals in the Hyperliquid ETF market after attracting $55 million in cumulative investor inflows.
Most crypto tokens have “buyback” mechanisms that are either nominal, sporadic, or theoretical. HYPE has something genuinely different.
Bitwise bought another $10M in HYPE as Hyperliquid expanded into canonical prediction markets and ETF inflows continued.
Bitwise's BHYP sees record $19M inflow as HYPE ETFs lead altcoin demand, outpacing Bitcoin and Ether by market-cap-adjusted demand today.
Some whales sold HYPE, but others bought over $33 million, keeping the bullish setup alive.
Two spot exchange-traded funds (ETFs) tracking Hyperliquid's HYPE token have set a new benchmark for altcoin fund debuts in the U.S., absorbing 1.04% of the token's total market capitalization in their first 10 trading days, while a single wallet simultaneously withdrew $30.93 million in HYPE from Coinbase Prime.
HYPE spot ETFs absorbed 1.04% of market cap in 10 days, outpacing bitcoin (0.59%), ether (0.41%), and Solana (0.31%), with Bitwise's BHYP posting a $19M single-day inflow.
HYPE ETFs Outperform BTC, ETH, and SOL in Debut Market Cap Absorption Rate
Hyperliquid's native HYPE token established a fresh record high approaching $65 on May 26, propelled by robust institutional demand through exchange-traded funds and the platform's debut of prediction market functionality.
Hyperliquid's expansion into Ethereum options could enhance decentralized finance's competitiveness, offering nuanced trading strategies and boosting token economics. Hyperliquid introduces native options for Ethereum on its platform.
HYPE crossed $65 on Hyperliquid. That's the headline.