HYPE Surges as Hyperliquid Gains Institutional Ground

Hyperliquid's native token HYPE has been rising steadily, approaching the $70 level. Over the last 24 hours, it has gained 11% and is now one of the top performers among the top 10 cryptocurrencies by market cap.

The platform's growing presence in the digital asset derivatives market is a key driver behind this rally. Hyperliquid has captured an 8.3% share of global perpetual futures open interest, with approximately $240.5 billion in futures trading volume over the past 30 days and annualized fee revenue surpassing $1 billion.

The increasing institutional interest in HYPE can be attributed to strong demand for recently launched spot exchange-traded funds (ETFs). According to market reports, HYPE-related ETFs attracted approximately $161 million in net inflows during their first month of trading.