HYPE token sets new record high above $60 amid rising Wall Street demand for Hyperliquid
The Block
Hyperliquid's HYPE token reached a record high above $60, driven by significant institutional inflows into new U.S. spot ETFs.Summary
The native token of Hyperliquid, HYPE, surged over 20% to reach a new record high of approximately $61.35. This performance makes it the top-gaining cryptocurrency among the top 100 by market capitalization. The rally is primarily fueled by strong institutional interest following the recent launch of spot Hyperliquid ETFs from providers like Bitwise and 21Shares, which recorded $25.5 million in daily inflows. Additionally, reports indicate aggressive accumulation of the token by entities linked to Grayscale and strategic purchasing plans by Bitwise.
(Source：The Block)