Hyperliquid’s HYPE Just Hit a New All-Time High: Experts Now Weigh $300 Target

Hyperliquid (HYPE) printed a record high near $77 on June 16. HYPE hits an ATH, with the price climbing nearly 10% in a single day as spot exchange-traded fund (ETF) inflows accelerated.

The token now trades around $74.61, up roughly 67% over the past year. Its market capitalization sits near $16.57 billion, making it the tenth-largest cryptocurrency.

Hyperliquid Daily Chart. Source: CoinGecko

Institutional Money Rotates Into HYPE

The move arrives as institutional capital tilts toward HYPE. On June 15, spot Bitcoin funds bled while Hyperliquid products gained, part of a broader rotation across crypto ETFs.

Spot HYPE ETFs have drawn about $153 million in net inflows and nearly $900 million in volume since launch. Three products hold the token directly, namely 21Shares’ THYP, Bitwise’s BHYP, and Grayscale’s HYPG.

Efe “Crypto Kid” Kelemci, a member of the BeInCrypto Market Intelligence Experts Council, shared his exclusive comment. He ties that demand to the protocol’s economics.

“Hyperliquid’s revenue-generating business model stands out as especially attractive to institutions because its roughly $850 million in 2025 revenue saw 99% directed to buying and burning $HYPE tokens … pointing to even higher institutional inflows ahead.”

That utility helps explain the pull. Hyperliquid’s perpetual futures markets enable traders to access assets such as equities and pre-IPO names. That includes the SpaceX contract, which drew heavy volume before its public debut.

The flow timing reinforces the story. After a brief net outflow around June 5, ETF demand snapped back hard. One of the largest single-day inflows landed on June 15 as the price recovered.

HYPE spot ETF net inflow / Source: Coinglass

Leverage Cuts Both Ways as Liquidations Spike

Strong inflows tell only half the story. Leverage on Hyperliquid has run hot since mid-May, and the data flags two-sided risk.

Long liquidations spiked in early June when prices pulled back from local highs. More recently, short liquidations have climbed as the token grinds higher, suggesting a squeeze is helping power the breakout.

The leverage backdrop also shaped a notable exit. Arthur Hayes sold his entire HYPE position above $72 in early June, then denied a reported buyback days later.

His departure offered a bearish counterweight to the bullish flows. Yet HYPE pushed to a record without him, a point traders have seized on.

HYPE toal liquidations / Source: Coinglass

What’s the Next Price Target for HYPE?

The daily chart frames the upside. HYPE reclaimed the 1.272 Fibonacci extension at $70.04 and now eyes the 1.618 extension near $83.55 as a first target.

A second target sits at the 2.0 extension around $98.47. The relative strength index is about 63, rising but not yet overbought, leaving room before momentum stretches.

One caution stands out. Volume has declined as price advanced, a divergence worth monitoring. The previous record at $59.41 now acts as support, with deeper backup near $51.05 along an ascending trendline.

HYPE daily chart. Source: Tradingview

Kelemci’s weekly chart shows HYPE trading in the upper half of an ascending channel since late 2024. That structure projects toward roughly $128 if the trend extends.

Kelemci also notes HYPE has gained 164% since the start of 2025. Over a similar span, Bitcoin fell 42%, and Ethereum dropped 57% from their peaks. He frames a far larger ceiling.

“If it scales to Tier-1 exchange volumes and launches spot trading, reaching a market capitalization similar to Robinhood’s roughly $70 billion would imply a token price well above $300, with the burn mechanism potentially allowing it to soar much higher.”

HYPE weekly chart. Source: CryptoKid

For now, the setup is binary. Hold the prior breakout above $59.41, and the path toward $83 and $98 stays open. Lose it, and the record run cools fast.