MyDream

06/17 02:23

HYPE rallies to new ATH at $76.70 as SpaceX future

HYPE rallies to new ATH at $76.70 as SpaceX futures fuel Hyperliquid activity Hyperliquid’s $HYPE token has surged to a new all-time high near $76.70 after a combination of ETF-related buying, rising platform activity, and a wave of short liquidations pushed the asset through key resistance levels. According to data from crypto.news, Hyperliquid ($HYPE) rose nearly 10% over the past 24 hours to a new all-time high of $76.70 on June 16 before stabilizing around $75.50 at press time. The token was up roughly 46% over the past week and more than 90% over the past month as growing platform activity, ETF-related demand, and protocol buybacks continued to support the rally. Hyperliquid price rallied as asset manager Bitwise purchased approximately 77,100 $HYPE tokens worth about $5.2 million to support its newly launched Bitwise Hyperliquid ETF. The purchase arrived as $HYPE was already trading near a major breakout zone, adding fresh spot demand to a market where supply has been steadily reduced through Hyperliquid’s protocol buyback system. For the uninitiated, Hyperliquid directs 97% of trading fees toward buying and burning $HYPE, creating persistent demand for the token. As prices moved above the closely watched $70 level, traders holding leveraged bearish positions were forced to cover, triggering a rapid liquidation cascade that accelerated the rally toward a record high. Platform activity has strengthened demand Beyond the ETF purchase, trading activity on Hyperliquid has continued to expand at a rapid pace. The platform’s SpaceX pre-IPO perpetual futures contract generated roughly $1.2 billion in trading volume during the past week. The contract has attracted substantial trader interest and helped boost overall activity across the exchange.#2026 World Cup Posting Challenge on HTX Square #HTX Creation Challenge — Post and Win 1,500U 💥

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