Hyperliquid’s HYPE token hit a brand new all-time excessive close to $70 on Could 31, extending one of many strongest large-cap crypto rallies of the month.
Abstract
- HYPE hit $69.97 for the primary time as month-to-month positive aspects topped 67% in newest knowledge.
- ETF merchandise drew $100.48 million in Could inflows, including institutional demand to Hyperliquid’s rally now.
- MACD stays bullish, however merchants are watching $62.50 assist after the sharp breakout transfer.
HYPE reaches document excessive close to $70
HYPE reached $69.97 for the primary time in its historical past earlier than easing barely towards the $67 to $68 vary. The token remained up greater than 67% over the previous month, whereas its seven-day acquire stayed above 8%.
The newest worth knowledge confirmed HYPE holding the quantity 11 market rank, with a market capitalization above $15 billion. Its totally diluted valuation stood above $65 billion, based mostly on a most provide of 1 billion tokens.
The 24-hour buying and selling vary stayed between $66.35 and $69.94, exhibiting that HYPE remained near document ranges even after a small pullback. The token’s all-time low was $3.81 on Nov. 29, 2024.
The transfer additionally drew consideration after social media accounts mentioned HYPE had briefly overtaken BNB in 24-hour quantity. Nonetheless, accessible worth knowledge confirmed HYPE quantity close to $1.1 billion, whereas BNB quantity was nonetheless listed above $3.5 billion throughout the identical test.
ETF inflows add demand to the rally
ETF demand stays one of many fundamental themes behind HYPE’s transfer. In accordance with SoSoValue knowledge, the most recent HYPE spot ETF knowledge confirmed three straight optimistic weekly inflows in Could.
Inflows started at $2.52 million on Could 13, rose to $72.38 million by Could 22, then slowed to $25.57 million by Could 28. That left cumulative web inflows at $100.48 million by the tip of the month.
Whole web property additionally rose from $3.17 million on Could 13 to $122.20 million by Could 28. Whole worth traded reached $383.77 million throughout the month, with the strongest exercise coming in the course of the week ending Could 22.
As beforehand reported, HYPE-linked ETF merchandise crossed $100 million in cumulative inflows inside their first 10 buying and selling classes. The demand was led by merchandise tied to Hyperliquid’s native HYPE token.
Bitwise has additionally tied a part of its ETF mannequin to token demand. Earlier stories famous that Bitwise plans to make use of 10% of BHYP administration charges to purchase and maintain HYPE on its stability sheet.
Buybacks stay central to Hyperliquid’s market story
Hyperliquid’s token mannequin has additionally helped drive consideration. The platform makes use of a big share of buying and selling charges to purchase again HYPE, linking token demand to trade exercise.
As crypto.information reported, Hyperliquid’s protocol income was working close to $1.3 billion in annualized charges by mid-2026. The identical report mentioned buybacks are funded by buying and selling charges from actual platform exercise, not by new token issuance or exterior capital.
Crypto commentators additionally pointed to this mannequin after HYPE’s document transfer. That Martini Man mentioned HYPE had reached a document excessive of about $70 and claimed the platform generates as much as $1 billion in annual charges with a small workforce.
Ash Crypto made an identical level, saying HYPE had added about $11 billion in market cap in 2026. He additionally linked the rally to payment buybacks, ETF inflows and new consideration round regulated perpetual futures.
These claims replicate market commentary and needs to be handled as views from merchants, not official steerage. The verified knowledge nonetheless exhibits that HYPE has seen sharp worth progress, robust ETF inflows and rising consideration from regulated funding merchandise.
Technical indicators nonetheless favor bulls
The chart stays bullish regardless of the small crimson candle after the document excessive. HYPE lately broke above the $40 to $45 consolidation space and pushed into the $67 to $70 vary.
The transferring averages assist the uptrend. The 9-day transferring common sits close to $62.52, whereas the 21-day transferring common is close to $53.51. The shorter common stays properly above the longer one, exhibiting that short-term momentum stays stronger.
So long as HYPE holds above the 9-day transferring common, the breakout construction stays intact. A pullback towards $62.50 would mark the primary key assist space. A deeper drop may convey the $53.50 zone into focus.
The MACD additionally stays optimistic. The MACD line stands at 6.112, above the sign line at 4.890, whereas the histogram sits at 1.222. This exhibits that upward momentum continues to be energetic.
Nonetheless, the transfer has been steep. Merchants could look ahead to weaker histogram bars as an early signal that momentum is cooling. A brief consolidation wouldn’t break the development by itself, however a every day shut under $62.50 would weaken the setup.
The following upside space sits close to $80. Earlier stories already framed $80 as a doable goal if ETF inflows, buybacks and buying and selling exercise hold supporting the token.
Disclosure: This text doesn’t symbolize funding recommendation. The content material and supplies featured on this web page are for academic functions solely.
