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HYPE jumps 11.6% to $76.90, hitting a new high amid strong buybacks and market momentum

Market News
16 Jun 2026
Bitcoin
View Source
Bullish
pluang ai news

On June 16, the digital asset HYPE surged over 11% to a record high of $76.90, recovering from a recent dip to $53. This rally was driven by Hyperliquid's active buybacks and increased trading volume, especially after the SpaceX IPO, which highlighted Hyperliquid's efficient market execution. Despite this, analysts warn that upcoming large token unlocks could challenge the current buying pressure. HYPE's market cap neared $17 billion, making it the 10th-largest crypto asset, while the price surge triggered $11.5 million in short position liquidations.

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