Hyperliquid’s HYPE token reached a new all-time high near $70 on May 31, marking one of the strongest high-cap cryptocurrency rallies of the month.
summary
- HYPE price reached $69.97 for the first time as monthly gains exceeded 67% in the latest data.
- ETF products attracted inflows of $100.48 million in May, adding institutional demand to Hyperliquid’s now rally.
- The MACD remains bullish, but traders are watching $62.50 support after the sharp breakout move.
HYPE hits record high near $70
The noise receipt $69.97 for the first time in its history before retreating slightly towards the $67 to $68 range. The token has remained up more than 67% over the past month, while its seven-day gains remain above 8%.
The latest pricing data showed that HYPE is ranked 11th in the market, with a market capitalization of more than $15 billion. Its fully diluted valuation was more than $65 billion, based on a maximum supply of 1 billion tokens.
The 24-hour trading range remained between $66.35 and $69.94, showing that HYPE remained close to record levels even after a small pullback. The token’s all-time low was $3.81 on November 29, 2024.
The move also drew attention after social media accounts said HYPE had briefly overstepped BNB Bank In 24 hour volume. However, available price data showed HYPE’s volume near $1.1 billion, while BNB’s volume remained listed above $3.5 billion during the same examination.
ETF inflows add demand to the rally
Demand for ETFs remains one of the main themes behind HYPE’s move. According to SoSoValue data, the latest HYPE Spot ETF data showed three consecutive positive weekly inflows in May.
Flows started at $2.52 million on May 13, rose to $72.38 million by May 22, and then slowed to $25.57 million by May 28. This left cumulative net flows at $100.48 million by the end of the month.
Total net assets also increased from $3.17 million on May 13 to $122.20 million by May 28. The total value traded reached $383.77 million over the course of the month, with the strongest activity occurring during the week ending May 22.
Ditto I mentionedHYPE-linked ETF products exceeded $100 million in cumulative inflows over the first 10 trading sessions. The demand was driven by products tied to Hyperliquid’s native HYPE token.
Bitwise has also tied part of its ETF model to token demand. Previous reports male Bitwise plans to use 10% of BHYP’s management fees to purchase HYPE and hold it on its balance sheet.
Buybacks remain central to the story of the Hyperliquid market
Hyperliquid’s token model also helped attract attention. The platform uses a significant share of trading fees to buy back HYPE, tying demand for the token to exchange activity.
Such as crypto.news I mentionedHyperliquid protocol revenue reached nearly $1.3 billion in annual fees by mid-2026. The same report said buybacks are funded by trading fees from real platform activity, not by new token issuance or external capital.
Cryptocurrency commentators also pointed to this pattern after HYPE’s record move. This guy’s a martini He said HYPE reached a record high of around $70 and claimed the platform generates up to $1 billion in annual fees with a small team.
Ash Crypto made a similar point, saying HYPE added about $11 billion in market cap in 2026. It also linked the rise to fee buybacks, ETF inflows and new interest in regulated perpetual futures.
These claims reflect market commentary and should be treated as the views of traders, not as official guidance. Verified data continues to show that HYPE has seen sharp price growth, strong ETF inflows and growing interest from regulated investment products.
Technical indicators are still in favor of bulls
The chart remains bullish despite the small red candle after the record high. HYPE recently broke through the $40 to $45 consolidation zone and pushed into the $67 to $70 range.
Moving averages support the uptrend. The 9-day moving average is located near $62.52, while the 21-day moving average is located near $53.51. The shorter average remains well above the longer average, indicating that short-term momentum remains stronger.
As long as HYPE is stable above the 9-day moving average, the breakout structure remains intact. A pullback towards $62.50 would serve as the first major support area. A deeper decline could bring the $53.50 area into focus.
The MACD indicator also remains positive. The MACD line is at 6.112, above the signal line at 4.890, while the histogram is at 1.222. This indicates that the upward momentum is still active.
However, this step was very steep. Traders may watch for weaker chart bars as an early sign that momentum is cooling down. A short consolidation would not break the trend by itself, but a daily close below $62.50 would weaken the setup.
The next bullish area is near $80. Previous reports have already identified $80 as a potential target if ETF inflows, buybacks, and trading activity continue to support the token.
Disclosure: This article does not constitute investment advice. The content and materials contained on this page are for educational purposes only.
