Hyperliquid’s HYPE Hits 8-Month High as Institutional Demand Builds
BeInCrypto
Hyperliquid's HYPE token reached an eight-month high, driven by strong inflows into newly launched US spot ETFs and a market short squeeze.Summary
Hyperliquid’s HYPE token has surged to an eight-month high, trading above $57 following a 40% weekly gain. This rally is primarily fueled by institutional interest in new US-listed spot ETFs, such as the 21Shares Hyperliquid ETF (THYP) and the Bitwise Hyperliquid ETF (BHYP), which have collectively attracted nearly $48 million in inflows. Market analysts highlight that these ETFs are seeing rare, sustained volume growth, complemented by a deflationary buyback mechanism and a significant short squeeze in the futures market.
(Source：BeInCrypto)