Hyperliquid's HYPE Token Hits New All-Time High Amid Growing Interest

Hyperliquid's native token, HYPE, has reached a new all-time high, fueled by the growing interest in the platform's HIP-3 markets and ETF launches.

The token's price has surged nearly 20% over the past 24 hours, pushing it above $62. This marks a significant milestone for HYPE, which has seen a nearly 143% rally year-to-date, outperforming many major crypto assets.

Institutional investors are increasingly accumulating HYPE as part of their exposure to Hyperliquid's ecosystem. Spot HYPE ETFs have brought in significant net inflows, with 21Shares accounting for $16.7 million and Bitwise adding $8.8 million.

Bitwise has also announced plans to accumulate HYPE alongside its Hyperliquid ETF offering, using 10% of management fees to acquire tokens for its balance sheet. This move is expected to further boost demand for the token.