Hyperliquid’s HYPE token hit a brand new all-time excessive close to $70 on Might 31, extending one of many strongest large-cap crypto rallies of the month.
Abstract
- HYPE hit $69.97 for the primary time as monthly positive factors topped 67% in newest knowledge.
- ETF merchandise drew $100.48 million in Might 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 achieve stayed above 8%.
The newest price knowledge confirmed HYPE holding the quantity 11 market rank, with a market capitalization above $15 billion. Its totally diluted valuation stood above $65 billion, primarily based on a most provide of 1 billion tokens.
The 24-hour buying and selling vary stayed between $66.35 and $69.94, displaying that HYPE remained shut to 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, obtainable price knowledge confirmed HYPE quantity close to $1.1 billion, whereas BNB quantity was nonetheless listed above $3.5 billion throughout the identical examine.
ETF inflows add demand to the rally
ETF demand stays one of many primary themes behind HYPE’s transfer. In accordance to SoSoValue knowledge, the most recent HYPE spot ETF knowledge confirmed three straight constructive weekly inflows in Might.
Inflows started at $2.52 million on Might 13, rose to $72.38 million by Might 22, then slowed to $25.57 million by Might 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 Might 13 to $122.20 million by Might 28. Whole worth traded reached $383.77 million throughout the month, with the strongest exercise coming in the course of the week ending Might 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 experiences noted that Bitwise plans to use 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 alternate 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 said HYPE had reached a document excessive of about $70 and claimed the platform generates up to $1 billion in annual charges with a small group.
Ash Crypto made an analogous level, saying HYPE had added about $11 billion in market cap in 2026. He additionally linked the rally to price buybacks, ETF inflows and new consideration round regulated perpetual futures.
These claims mirror market commentary and must be handled as views from merchants, not official steerage. The verified knowledge nonetheless reveals that HYPE has seen sharp price progress, sturdy 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 not too long ago broke above the $40 to $45 consolidation space and pushed into the $67 to $70 vary.
The shifting averages assist the uptrend. The 9-day shifting common sits close to $62.52, whereas the 21-day shifting common is close to $53.51. The shorter common stays nicely above the longer one, displaying that short-term momentum stays stronger.
So long as HYPE holds above the 9-day shifting common, the breakout construction stays intact. A pullback towards $62.50 would mark the primary key assist space. A deeper drop might deliver the $53.50 zone into focus.
The MACD additionally stays constructive. The MACD line stands at 6.112, above the sign line at 4.890, whereas the histogram sits at 1.222. This reveals 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 pattern by itself, however a each day shut under $62.50 would weaken the setup.
The subsequent upside space sits close to $80. Earlier experiences already framed $80 as a potential goal if ETF inflows, buybacks and buying and selling exercise preserve supporting the token.
Disclosure: This text doesn’t signify funding recommendation. The content material and supplies featured on this web page are for instructional functions solely.
