Hyperliquid's native token surged 46% to a record $76.90 as institutional capital flooded into the perpetual DEX ecosystem through spot ETFs and whale accumulation.
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HYPE hits record $76.90 as institutional inflows fuel 46% weekly rally
Hyperliquid's native token surged 46% to a record $76.90 as institutional capital flooded into the perpetual DEX ecosystem through spot ETFs and whale accumulation.
HYPE rose 46% to $76.90 on June 16, extending a six-day winning streak as institutional inflows and whale demand pushed the token to an all-time high.
HYPE spot ETFs recorded $17.19 million in net inflows on June 15, according to SoSoValue data. Onchain Lens reported a whale deposited $5.5 million in USDC to Hyperliquid and opened a 120,000 HYPE long position at 10x leverage, worth $7.86 million.
Trading volume surged 98% to $1.33 billion over 24 hours, CoinGecko data shows. Hyperliquid's open interest topped $6 billion, while cumulative protocol revenue crossed $1.16 billion, per DefiLlama. The token's long/short ratio stood at 1.06, with the OI-weighted funding rate turning positive at 0.0346%, indicating bullish positioning among derivatives traders.
The $76.90 level represents a resistance zone that rejected HYPE on June 2 and June 4. A breakout above that threshold could open the path to a new all-time high, while a failure to hold above $65 support may trigger a pullback, according to TradingView chart data. The average directional index climbed to 34.47, a reading above 25 that signals a strong trend.
The rally comes as Hyperliquid, a layer-1 blockchain built for perpetual futures trading, has seen its ecosystem metrics accelerate. The protocol processed over $1.16 billion in cumulative revenue, making it one of the highest-grossing DeFi applications by fee generation, according to DefiLlama.
Another wallet address withdrew 47,000 HYPE worth $3.16 million from Bybit, on-chain analyst ai_9684xtpa reported, suggesting accumulation by large holders. The combination of exchange outflows, ETF inflows, and whale positioning has created a supply squeeze that amplified the price move.
HYPE's 46% weekly gain outpaced most major altcoins over the same period. The token has more than doubled over the past month, with gains exceeding 90% since mid-May.
This article is for informational purposes only and does not constitute investment advice.
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