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HYPE token jumps 21% after US ETF launch and Coinbase-Circle stablecoin deal

Market News
15 May 2026
Blockonomi
View Source
Bullish
pluang ai news

Hyperliquid's HYPE token surged 21% to $46.64 following the launch of the first US spot ETF (THYP) on Nasdaq, providing easier institutional access. Coinbase became the official USDC treasury deployer on Hyperliquid, replacing the native USDH stablecoin, with Circle supporting validator operations by pledging 500,000 HYPE tokens. This partnership boosts liquidity and supports potential $146M annual buybacks. Technical analysts warn of possible retracement unless HYPE closes above $50, signaling cautious optimism for investors.

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