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HYPE price hits record $75 on strong institutional demand and ETF launches.

Market News
03 Jun 2026
Crypto news
View Source
Bullish
pluang ai news

HYPE token price surged to a new high near $75 following Grayscale's launch of the Hyperliquid Staking ETF, competing with Bitwise and 21Shares ETFs that have collectively drawn over $136 million in net inflows. Institutional interest is growing, supported by Hyperliquid's tokenomics that use over 97% of platform revenue to buy back HYPE, tightening supply. A major short seller recently exited a $110 million position at a loss, signaling bullish sentiment. Technical indicators suggest potential for HYPE to reach $100 and beyond, with strong momentum and Fibonacci targets pointing to $110 as a key level.

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