The bullish momentum behind Hyperliquid’s native token shows no signs of slowing. On June 10, HYPE token surged past $41, marking a new all-time high (ATH) as large-scale investors—or whales—continued aggressive accumulation. The surge builds on growing confidence in Hyperliquid’s decentralized derivatives platform and expanding ecosystem support.
Whale Activity Signals Strong Confidence
According to blockchain analytics platform Spot On Chain, a high-profile investor purchased 259,367 HYPE tokens for nearly $10 million, at an average price of $38.46. This whale has now realized over $10 million in profit from trading HYPE alone—highlighting the token’s explosive price performance and profitability.
Other whale wallets, such as “0xd83” and “0x9E8,” have also accumulated over 99,000 HYPE within the past 24 hours. A pending buy order of 57,000 HYPE at $24.95 from wallet “0xab6” suggests ongoing interest even at lower price levels.
Expanding Utility and Ecosystem Support
Fueling the token’s momentum is growing institutional interest and ecosystem integrations. Earlier this month, SwissBorg added support for HYPE and PURR tokens on its Meta-Exchange platform, enabling on-chain staking and seamless fiat-to-crypto swaps across 16 currencies. This integration is expected to further boost HYPE’s accessibility and liquidity.
Despite a temporary scare on May 24, when a HyperFND-affiliated X account was compromised, investor confidence remained strong. The incident did not affect the core protocol, and HYPE quickly rebounded, hitting fresh highs within days.
Market Performance and Outlook
HYPE has posted over 15% gains in the last 24 hours, moving from under $35 to over $41. It has also outperformed the broader crypto market, rising 11% over the past week and 65% over the past month, pushing its market cap to $13.6 billion and placing it among the top 15 cryptocurrencies by size.
The growth comes alongside a major uptick in platform usage—Hyperliquid recently topped $9.37 billion in open interest, reflecting heightened trading activity. Regulatory engagement has also increased, with the team submitting public comments to the CFTC, advocating for clearer DeFi regulations.
