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Hyperliquid's HYPE Hits a Record High and Eyes $300

Inflows into HYPE ETFs are pushing the token to a new record, while technical signals and liquidations are bringing the next price targets into view.

By Luc Vesters
• 2 min read
Hyperliquid's HYPE Hits a Record High and Eyes $300

Key Takeaways

  • HYPE hit a record of nearly $77 on June 16 and is trading around $74.61 after rising almost 10% in one day.
  • Spot HYPE ETFs have pulled in about $153 million in net inflows since launch and generated nearly $900 million in trading volume.
  • Technically, HYPE is targeting $83.55 and $98.47, while support sits at $59.41 and $51.05.

Hyperliquid's token HYPE hit a new record on June 16, reaching nearly $77 (€66), up almost 10% in one day. The move comes from a strong flow of capital into spot exchange-traded funds (ETFs) that hold HYPE. The token is currently trading around $74.61 (€64) and has grown about 67% over the past year, with a market cap of about $16.57 billion, making it the tenth-largest cryptocurrency.

Institutional Interest and ETF Inflows

HYPE's recent price jump is being driven by a shift in institutional capital toward Hyperliquid products. While spot Bitcoin funds saw outflows on June 15, HYPE-related ETFs saw strong inflows instead. Since launch, spot HYPE ETFs have brought in about $153 million (€132 million) in net inflows and nearly $900 million (€776 million) in trading volume. Major products that hold HYPE directly include 21Shares’ THYP, Bitwise’s BHYP, and Grayscale’s HYPG.

This interest is partly explained by Hyperliquid's business model, where a large share of revenue is used to buy back and burn HYPE tokens. That mechanism creates deflationary pressure on supply, which is attractive to institutional investors. Hyperliquid's perpetual futures markets give traders access to a range of assets, including stocks and pre-IPO contracts like SpaceX, which brings in even more trading volume.

Other players are also betting on products that bring traditional investment structures onto the blockchain. For example, Ondo Finance is expanding its tokenized lineup with new strategies and portfolios.

Technical Outlook and Risks

Technically, HYPE has reclaimed the 1.272 Fibonacci extension at $70.04 (€60) and is now aiming for the 1.618 extension around $83.55 (€72) as its first price target. A second target sits at the 2.0 extension around $98.47 (€85). The relative strength index is around 63, which leaves room for more upside without being overbought. That said, volume is trending lower even as the price rises, which is still something to watch.

Volatility is being amplified by leverage, with both long and short liquidations rising recently, pointing to a possible squeeze that could support the rally. A key support level is the previous record of $59.41 (€51), with deeper support around $51.05 (€44).

Why It Matters for European Investors

For European crypto investors, the strong institutional interest in HYPE and the growth of related ETFs could point to broader acceptance of innovative crypto products that blend in traditional financial instruments. Hyperliquid's model, which aims to combine decentralized technology with conventional markets, may matter for investors looking for exposure to new forms of digital assets within regulated frameworks.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal, or tax advice. The information provided may be incomplete, inaccurate, or outdated and should not be relied upon as such. Nothing on this website should be considered a recommendation to buy, sell, or hold any cryptocurrency. Investing in crypto-assets involves risk of loss.