Hyperliquid (HYPE) storms new heights: is there a chance for $300?
Hyperliquid (HYPE) continues to surprise the market. On June 16, the asset updated its all-time high, reaching the $77 mark. The daily growth rate exceeded 10%, and the key driver of this movement was a powerful inflow of capital into spot exchange-traded funds (ETFs) based on the token.
At the time of analysis, the coin is trading at $74.61, which is 67% higher than the same period last year. The project's market capitalization is approximately $16.57 billion, firmly holding HYPE in tenth place in the global cryptocurrency ranking.
Institutional Interest as the Main Catalyst
The main driver of the current rally was a massive flow of funds from institutional investors. Significantly, on June 15, when classic Bitcoin funds recorded a net outflow, investment products based on Hyperliquid showed steady growth. This reflects a global rotation of assets within the crypto-ETF sector.
Since their launch, specialized funds have attracted $153 million in net investments, and the total trading volume has come close to $900 million. Three major funds directly hold the token: Grayscale HYPG, 21Shares THYP, and Bitwise BHYP.
The platform's high practical value consistently fuels buying demand. Futures markets provide traders with access to many non-standard assets, including securities of traditional corporations. Particular excitement was caused by the launch of derivatives on SpaceX shares even before their official public offering. Consequently, long-term interest in the ecosystem is supported by real products.
High Leverage and a Wave of Liquidations
The aggressive inflow of investments also has a downside. Since mid-May, an excessively high level of leverage has persisted on the platform, creating serious risks for all market participants.
Alongside the growth in leverage, there was a significant exit of individual players from the asset. BitMEX co-founder Arthur Hayes fully realized his profit, selling his holdings above $72 in early June. The departure of such a high-profile figure created a short-term bearish sentiment. However, buyers quickly absorbed this supply, allowing the coin to update its price records.
Technical Analysis: Targets and Levels
Technical analysis of the daily timeframe indicates the preservation of upward potential. Quotes have successfully consolidated above the key Fibonacci level of 1.272, which corresponds to the $70.04 mark.
The following targets are identified: the first target is the Fibonacci level of 1.618 at $83.55; the second target is the psychological Fibonacci level of 2.0 at $98.47.
The Relative Strength Index is currently at 63. The indicator is gradually rising, but the extreme overbought zone has not yet been reached. Accordingly, buyers have sufficient strength to continue the assault on higher levels. The only alarming signal is the decline in trading volumes against the backdrop of a rising chart, so traders should exercise caution near current levels.
On the weekly chart, it is clearly visible that since the end of 2024, the coin has been consistently constrained within the upper boundary of an ascending price channel. Maintaining this trend opens the path to the $128 mark in the medium term. Since the beginning of 2025, a massive divergence with the market has emerged: the asset has gained 164%, while the main cryptocurrency has lost about 42% from its peaks.
Cryptalist Expert Opinion: If the project reaches the volumes of the largest exchanges and launches spot trading, achieving a market capitalization similar to Robinhood's — around $70 billion — would push the token's price above $300. The burning mechanism could allow the price to rise even further. The current market picture looks moderately optimistic. If buyers defend the recent breakout above $59.41, the chances of quickly reaching the $83 and $98 zones will remain maximal.