Bullishness Around Hyperliquid Rise Again

Bullish sentiment towards Hyperliquid is again on the rise, with crypto whales accumulating the perp DEX token, sparking a significant price surge. The primary keyword, bullishness around Hyperliquid rise again, is gaining traction as investors anticipate a potential launch of the first HYPE ETF in the U.S.

Why Bullish Sentiment Towards Hyperliquid Is On The Rise

Crypto whales are again massively accumulating Hyperliquid, which has sparked the bullish sentiment towards the perp DEX token. According to on-chain analytics platform Lookonchain, BitMEX co-founder Arthur Hayes bought 26,022 HYPE, worth $1.1 million, after nearly 3 months. Hayes is one of many crypto whales Lookonchain has flagged as currently buying HYPE.

Key Accumulation Points

• A particular whale deposited 7.86 million USDC into Hyperliquid to buy 200,042 HYPE.
• Another whale, Cooker, bought 50,751 HYPE for $1.99 million at an average price of $38.5.

Hyperliquid Price Surge and Predictions

The HYPE price is already up amid this accumulation wave, up over 12% in the last week. The perp DEX token has reclaimed the key $40 level and is now eyeing new local highs. Interestingly, Hayes has predicted that Hyperliquid could reach $150 by August, stating that this could happen as the HIP-3 markets continue to generate record fees for the perp DEX.

DeFiLlama Data Insights

DeFiLlama data shows that Hyperliquid currently ranks among the crypto protocols generating the most fees. This is bullish for HYPE because a majority of these fees go into buybacks, which could spark significant rallies for the token.

An HYPE ETF Is On The Horizon

Bitwise has filed an amended registration statement for its Hyperliquid ETF, with the fund set to trade under the ticker ‘BHYP.’ The asset manager also set a management fee of 0.67% for the fund. Meanwhile, it listed market makers FalconX, Flowdesk, Nonco, and Wintermute as approved trading counterparties.

Key Takeaways

• Crypto whales are accumulating Hyperliquid, sparking a price surge.
• The potential launch of the first HYPE ETF in the U.S. is contributing to the bullish sentiment.
• Hyperliquid could reach $150 by August, according to Arthur Hayes' predictions.
• The HYPE price is up over 12% in the last week, reclaiming the key $40 level.

Frequently Asked Questions

What is driving the bullish sentiment towards Hyperliquid?

The accumulation of Hyperliquid by crypto whales and the potential launch of the first HYPE ETF in the U.S. are driving the bullish sentiment.

How high can Hyperliquid reach by August?

According to Arthur Hayes' predictions, Hyperliquid could reach $150 by August, driven by the HIP-3 markets generating record fees for the perp DEX.