<div id="readability-page-1"><img width="1329" height="1183" src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/05/ChatGPT-Image-May-21-2026-04_46_30-AM.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/05/ChatGPT-Image-May-21-2026-04_46_30-AM.png"/>HYPE, the native coin of the Hyperliquid Decentralized Exchange (DEX), is approaching its all-time high price of $59 after crossing the $55 mark a few hours ago.The positive performance comes as the broader cryptocurrency market bounces back from its recent selloff, with Bitcoin now trading around $78,000.HYPE is leading the market rally as it is up 17% in the last 24 hours, making it the best performer among the top 10 cryptocurrencies by market cap.Momentum indicators are extremely bullish, with institutional adoption likely to push HYPE’s price higher in the near term.<h2>Hyperliquid ETFs attract $22M in inflows</h2>HYPE is up 45% in the last seven days, outperforming the broader crypto market during that period.The primary catalyst behind this rally is the launch of Bitwise's Hyperliquid ETF, BHYP, and 21Shares Hyperliquid fund, THYP, a few days ago. The funds are drawing early attention from investors thanks to Hyperliquid’s growing dominance in the crypto space. According to the Bloomberg analyst Eric Balchunas, the funds have attracted a total of $22 million in inflows.<figure> https://twitter.com/EricBalchunas/status/2057082290883199389 </figure>The demand for Hyperliquid ETFs has translated into meaningful buy-side pressure across HYPE markets. Institutional positioning is shifting in the broader crypto market. A recent 13F filing reveals that Goldman Sachs has exited positions in Solana (SOL) and XRP ETFs, while gaining exposure to HYPE treasury Hyperliquid Strategies.On Monday, Bitwise announced that it would add HYPE to its balance sheet. Bitwise CIO Matt Hougan believes that Hyperliquid is the structural evolution in crypto markets.Hougan noted that Hyperliquid is a &#34;super app&#34; that is targeting the $600 trillion global asset market rather than the $3 trillion crypto sector alone.The Bitwise CIO also believes that HYPE's Gen 2 token model, which allocates 99% of fees to buybacks, makes it undervalued at the moment. While institutions are positioning for a potential HYPE rally, retail investors are expanding their positions. Smart money tracker Lookonchain reported that a whale deposited 19 million USDC to acquire more than 76,600 HYPE, worth approximately $3.8 million.<figure> https://twitter.com/lookonchain/status/2057061032988967209 </figure><h2>Is HYPE heading towards a new all-time high?</h2>The HYPE/USD 4-hour chart is extremely bullish as Hyperliquid has outperformed the broader cryptocurrency market in recent weeks.At press time, HYPE is trading at $56.65 and is approaching its all-time high price of $59.39. The momentum indicators suggest an extremely bullish scenario.The RSI of 83 means that HYPE is currently in the overbought region. However, with the strong retail and institutional demand, a reversal could be unlikely at the moment. The MACD lines are also within the positive territory, adding further confluence to the bullish narrative.If the bulls remain in control, HYPE could extend its run and set a new all-time high above $59 in the near term. Currently, HYPE is only 5% away from its all-time high price.<figure><img src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/05/HYPEUSD_2026-05-21_04-30-16.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="1793" height="836" original-src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/05/HYPEUSD_2026-05-21_04-30-16.png"/></figure>However, if the market undergoes a correction, the first major support level lies at the Wednesday low of $47.82. Failure to defend this level could see HYPE extend its decline towards the Inducement Liquidity (ILQ) at $44.21.The post Can HYPE hit a new all-time high as ETF inflows fuel its rally? appeared first on Invezz</div>

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HYPE, the native coin of Hyperliquid DEX, is nearing its all-time high of $59 after a 17% rise in 24 hours, driven by strong ETF inflows totaling $22M. The cryptocurrency market is rebounding, with Bitcoin at $78,000. Institutional interest is growing, as evidenced by Goldman Sachs' shift towards HYPE. Currently trading at $56.65, HYPE is only 5% away from its peak, with bullish momentum indicators suggesting potential for further gains.