- HYPE has grown by 24% in six days, approaching its all-time high.
- The transparency law, the rise in the USDC price, and Bitwise’s promise to support HYPE have captured the market’s attention.
Hyperliquid (HYPE) has risen 24% in six days, rising from $38,32 to $47,65. Token has come close to its historical maximum, and the social dominance index has jumped to 1,79%, according to According to Santiment analysts.
The price is within $12 of its all-time high, and social dominance reached 1,79% on May 14. This value is significantly higher than the usual range, indicating a surge in attention from the crypto community. Wrote experts.
On the chart of the HYPE/USDT trading pair on KuCoin The bullish picture persists: the relative strength index has consolidated near 64,91, below the overbought zone, but with significant buying pressure. The MACD indicator remains positive: the blue line is holding above the signal line, and the green histogram bars continue to rise, confirming the strength of the current uptrend.
The key catalyst for the token was the launch of Bitwise Hyperliquid ETF (ticker BHYP) on the New York Stock Exchange on May 15. Bitwise announced that it would use 10% of the fund’s management fee to purchase and hold HYPE on its own balance sheet.
An additional driver was the integration of USDC on Hyperliquid. It was previously announced that Circle became the technical partner for the USDC deployment on the platform, and Coinbase became the official operator of the USDC treasury. Steyblecoin USDC remains the primary collateral and quotation asset in the Hyperliquid trading ecosystem. USDC volume on Hyperliquid has reached approximately $5 billion, doubling in a year amid growing demand for stablecoins in DeFi-sector.
Santiment cites the approval of the CLARITY bill by the US Senate Committee on May 14 as another factor driving the growth. Its passage has had a positive impact on sentiment around cryptocurrency trading platforms, including Hyperliquid.
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