Havoc

Velo

Grayscale

Hyperliquid

Hyperliquid’s native token HYPE continues to rally, possibly targeting $100 as its next all-time high, as inflows to its exchange-traded funds highlight investor demand.&nbsp;Inflows into the HYPE ETFs reached $89 million over the past nine days, which is equivalent to nearly $9.2 million in daily buying pressure.&nbsp;The combined assets under management (AUM) across Bitwise’s BHYP and 21Shares’s THYP climbed to $89 million within days of launch, giving HYPE one of the fastest ETF accumulation curves among crypto investment products.<img alt="HYPE chases new highs as ETF inflows, institutional adoption accelerate" height="706" src="https://s3-images.ctmedia.io/media/content/pasted-image-149.jpeg" width="2048">Total spot HYPE ETF net inflows. Source: SoSoValueBitwise CEO Hunter Horseley <a href="https://x.com/HHorsley/status/2059288713218429128?s=20" rel="noopener noreferrer nofollow">said</a> BHYP alone recorded roughly $12 million in trading volume during its first 90 minutes of trading. The fund’s assets under management reached $40 million just over a week after launch.HYPE proponent Havoc <a href="https://x.com/Havochl_/status/2059188673522876865?s=20" rel="noopener noreferrer nofollow">added</a> that the upcoming Grayscale GHYP product could contribute another $8 million to $12 million in daily inflows. At different average purchase prices, the projected yearly demand could absorb between 8% and 33% of HYPE’s circulating supply.After assuming a 30% to 35% outflow similar to what was seen in the spot Bitcoin ETFs, Havoc estimated yearly net demand between $2.9 billion and $3.6 billion. The analyst described the figures as substantial for a crypto asset with a relatively thin floating supply.&nbsp;Onchain activity also shows growth, with Hyperliquid <a href="https://x.com/reisnertobias/status/2059270397351109019?s=20" rel="noopener noreferrer nofollow">attracting</a> more than $1.1 billion in net inflows over the past month.<a href="https://cointelegraph.com/news/rwa-market-cap-51-billion-tokenized-private-credit-bernstein" rel="noopener noreferrer nofollow">Related: RWA market hits $51B as tokenized private credits surges: Bernstein</a><h2 id="hype-open-interest-tracks-breakout">HYPE open interest tracks breakout</h2>HYPE climbed to a new all-time high of $64.50 on Tuesday, while Bitcoin continued to struggle below the $77,000 resistance level. The token has since consolidated above its previous breakout level near $59.40, keeping HYPE in a price discovery.If HYPE continues to hold above $59.40, the next Fibonacci extension target sits near $76 at the 1.236 level. Beyond that, the 1.382 Fibonacci extension places the next upside level near $89.50, followed by the 1.618 extension near $101.&nbsp;<img alt="HYPE chases new highs as ETF inflows, institutional adoption accelerate" height="1114" src="https://s3-images.ctmedia.io/media/content/pasted-image-1032.png" width="2048">HYPE/USD, one-day chart. Source: Cointelegraph/TradingViewFibonacci extensions are commonly used by traders to estimate potential resistance zones and profit-taking levels once an asset moves beyond its previous all-time high.&nbsp;Derivatives data continued rising alongside the breakout. Velo data showed aggregated open interest approaching $2 billion as traders added fresh positions during the rally. Aggregated funding rates held near 0.004%, suggesting bullish positioning.&nbsp;<img alt="HYPE chases new highs as ETF inflows, institutional adoption accelerate" height="946" src="https://s3-images.ctmedia.io/media/content/pasted-image-1033.png" width="2048">HYPE price, aggregated funding rate, and open interest. Source: Velo chartCrypto analyst Byzantine General said Hyperliquid <a href="https://x.com/ByzGeneral/status/2058543418901397581?s=20" rel="noopener noreferrer nofollow">reached</a> $8.5 billion in aggregate exchange open interest, making it the third-largest derivatives venue behind Binance and Bybit. The platform’s total open interest market share climbed to 7.2%, marking a new all-time high.Meanwhile, some traders are monitoring signs of crowding after the sharp vertical move. Crypto trader GonzoXBT <a href="https://x.com/GonzoXBT/status/2059188565192401234?s=20" rel="noopener noreferrer nofollow">said</a> a temporary pullback toward the four-hour 200-period exponential moving average (EMA) deviation area could help reset positioning.&nbsp;The daily chart also shows an unfilled fair-value gap between $48 and $54 that overlaps with the rising 50-day EMA and could serve as a key liquidity and support zone if the price pulls back.&nbsp;<img alt="HYPE chases new highs as ETF inflows, institutional adoption accelerate" height="1114" src="https://s3-images.ctmedia.io/media/content/pasted-image-150.jpeg" width="2048">BTC/USD, one-day chart analysis by GONZO. Source: X<a href="https://cointelegraph.com/markets/near-protocol-leads-ai-token-rally-with-a-50-pump-is-5-near-price-next" rel="noopener noreferrer nofollow">Related: NEAR protocol leads AI token rally with a 50% pump: Is $5 NEAR price next?</a>

HYPE chases new highs as ETF inflows, institutional adoption accelerate

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