Hyperliquid’s native cryptocurrency, HYPE, has emerged as one of the standout performers in the crypto markets in recent weeks. Today, the token surged to a fresh all-time high, briefly trading above $73.
The uptick coincides with rising institutional interest, strong inflows into exchange-traded products, and mounting momentum for Hyperliquid as a major on-chain derivatives ecosystem.
HYPE Hits New Record After 20% Weekly Rally
HYPE extended its recent uptrend over the last 24 hours, rising more than 5% and crossing the $73 mark to set a new all-time high at the time of publication.
The latest leg higher capped a powerful five-day rally following weeks of steady gains. Buyers have consistently defended higher lows and pushed HYPE through multiple resistance levels.
Over the past seven days the token gained more than 20%, and its 30-day performance exceeds 75%.
Those gains have lifted HYPE into the top 10 cryptocurrencies by market capitalization, allowing it to surpass established tokens such as DOGE.
ETF Inflows and Grayscale Buzz Fuel the Rally
Aside from improving on-chain fundamentals and rising trading activity, growing demand for HYPE-linked exchange-traded products appears to be a major catalyst for the rally.
Data from SoSoValue show that U.S. spot HYPE ETFs recorded over $9 million in one-day net inflows on May 29, pushing total net assets above $135 million.
Further fueling bullish sentiment are reports that asset manager Grayscale is in discussions with Hyper Holdings Global LP about a seed investment of roughly 2 million HYPE tokens for a proposed Grayscale Hyperliquid Staking ETF. At current prices, that allocation would represent a significant capital commitment.
The proposed fund is expected to trade on Nasdaq under the ticker HYPG, a development that would broaden institutional access to HYPE and likely support continued inflows if approved.