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HYPE token rallies nearly 50%, nearing all-time high amid SpaceX and AI IPO futures excitement.

Market News
21 May 2026
Finbold
View Source
Bullish
pluang ai news

The HYPE token of Hyperliquid surged 49.62% to $58.47, adding nearly $5 billion to its market cap and surpassing Solana's fully diluted valuation. This rally was driven by the launch of pre-IPO perpetual futures for SpaceX, valued near $1.8 trillion, and AI firms OpenAI and Anthropic. The excitement around these futures, especially SpaceX's anticipated IPO, has fueled strong investor interest despite a broader crypto market decline. Continued developments in AI IPO filings could sustain HYPE's upward momentum.

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