Hyperliquid (HYPE) storms new heights: is the rise to $300 realistic?
Hyperliquid (HYPE) once again confirms its status as one of the strongest assets on the market. On June 16, the token updated its all-time high, reaching the $77 mark. The daily gain exceeded 10%, and the key catalyst for this movement was a powerful influx of capital into spot exchange-traded funds (ETFs) based on HYPE.
At the time of writing the analysis, the asset is trading near $74.61, which is 67% higher than the figures for the same period last year. The project's market capitalization is about $16.57 billion, allowing HYPE to confidently hold the tenth spot in the global cryptocurrency ranking.
Institutional Interest as the Main Driver
The main driving force behind the current rally has been a large-scale flow of funds from institutional investors. Notably, on June 15, when classic Bitcoin funds recorded net outflows, 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 unique tokenomics plays a key role here. Hyperliquid's business model, through which the project could generate about $850 million in revenue by 2025, looks particularly attractive to large players. At the same time, 99% of this amount is directed towards buying back and burning $HYPE tokens, creating a powerful deflationary backdrop and stimulating further capital inflows.
The high practical value of the platform consistently fuels buying demand. Futures markets provide traders with access to many non-standard assets, including securities of traditional corporations. Particular excitement was generated by the launch of derivatives on SpaceX shares even before their official public offering. Consequently, interest in the ecosystem is long-term supported by real products.
High Leverage and a Wave of Liquidations
The aggressive inflow of investments also has a downside. Since mid-May, the platform has maintained an excessively high level of leverage, creating serious risks for all market participants. In early June, we observed a wave of long position liquidations amid a local correction from the highs. Later, in the middle of the month, short positions came under pressure due to the gradual price increase and a "squeeze" on sellers.
Concurrently with the rise in leverage, there was a major exit of some individual players from the asset. BitMEX exchange co-founder Arthur Hayes fully booked profits, selling his holdings above $72 in the first days of June. The departure of such a high-profile figure created a short-term bearish backdrop, but buyers quickly absorbed this supply, allowing the coin to update its price records.
Nearest Price Targets for HYPE
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 next targets are: the Fibonacci level of 1.618 at $83.55 and 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 margin of safety to continue their assault on the highs. The only alarming signal is the decline in trading volumes against the backdrop of a rising chart, so traders should exercise caution near the current levels. In case of a pullback, the historical level of $59.41 will serve as the first line of defense, while the ascending trend line at $51.05 will provide additional support.
On the weekly chart, it is clearly visible that since the end of 2024, the coin has been consistently squeezed 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.
If the project reaches the volumes of the largest exchanges and launches spot trading, achieving a market capitalization roughly similar to Robinhood's — about $70 billion — would push the token price above $300. The burning mechanism could allow the price to grow even further.
Expert Opinion: The current picture for Hyperliquid looks moderately optimistic. The key factor remains the buyers' ability to defend the recent breakout above $59.41. If successful, the chances of quickly reaching the $83 and $98 zones remain maximal. Otherwise, the bullish scenario will be temporarily canceled, and the market will enter a deeper correction. Investors should closely monitor the dynamics of ETF flows — they are currently the main barometer of sentiment.