SuperLiquid saw its token price continue to rise on Thursday, reaching a intraday high of $58.97, extending its previous upward trend.
HYPE is currently trading at $57.20, up 15.3% today (data source: [insert data source here]). CoinGecko data Its explosive growth outpaces Zcash (12%) and Worldcoin (7%), coinciding with renewed institutional interest.
The newly launched ultra-liquid ETF recorded net purchases of $25.5 million on Wednesday—17 times the daily token aid fund burn rate of approximately $1.4 million. Shanqiu Analysis This figure also exceeds the total net purchases over the previous five days, which amounted to $22.35 million. SoSoValue
Currently, demand for an HYPE ETF has far exceeded the token’s built-in supply reduction mechanism, a dynamic that could further tighten available supply.
Nebula DeFi CEO Jason Rindahl said: “The market is rewarding genuine trading volume, fee income, user engagement, and the recognition that Hyperliquid is becoming one of the few crypto-native platforms that can match the centralized exchange experience.”Decrypt
The prediction market countless of all encrypted users of parent company Dastan have been fully validated: the contract regarding whether HYPE can reach $52 in May has been resolved.Resolved 100% On Wednesday, the token price quickly surpassed the threshold.
Bitwise doubles down on Hyperliquid
Bitwise is one of two issuers that submitted an HYPE ETF application last week; the company announced its Bitwise Hyperliquid ETF wallet address on Wednesday. “Hyperliquid is built on transparency. All trades occur on-chain. Don’t take our word for it—verify,” the company wrote on Twitter.
To express similar support, Bitwise announced on Monday that it will allocate 10% of its ETF management fees to hold HYPE on its balance sheet, calling it a “community-first model” aligned with Hyperliquid’s 99% revenue buyback mechanism. The company wrote: “If the protocol succeeds, the community succeeds.”
Bitwise CIO Matt Hougan, who has been a strong supporter of Hyperliquid, published a detailed memo on Tuesday titled “Superliquidity After the Maturation of Cryptocurrency.”
In the article, he argues that the market has mispriced HYPE, identifying two errors: first, a "category error," where investors view Hyperliquid as a cryptocurrency perpetual exchange rather than a global super-app applicable to all assets; and second, an "anchoring error," where investors conflate HYPE with first-generation governance tokens rather than comparing it to high-growth financial infrastructure like Robinhood or CME.
Hougan wrote: “Hyperliquid is one of the most important cryptocurrency projects to emerge in recent years. I still believe investors are underestimating its impact and value.”
After NVIDIA's earnings report, tech stocks had mixed reactions, but this did not diminish the optimism surrounding altcoins.
The U.S. chip manufacturer released its first-quarter earnings report on Wednesday, showing revenue of $81.6 billion, an 85% year-over-year increase and exceeding Wall Street’s previous expectation of $78.9 billion. The chipmaker also approved an $80-billion stock buyback program and increased its dividend.
Despite strong earnings and robust guidance, NVIDIA slipped more than 3% in after-hours trading but is currently attempting to recover.