$HYPE is rallying back near its recent highs, recovering after weeks of downward pressure driven by token unlocks and large holders depositing tokens to exchanges.
Hyperliquid continues to show it's one of the few platforms where trading revenue and price action genuinely stay in sync.
The strongest bullish signal for crypto trading volumes would be $HYPE by Hyperliquid securing CFTC approval in the U.S., opening the door to American wealth funds actively trading commodities and equities on the platform.
Moving perpetual futures onshore under U.S. regulation would draw in an entirely new segment of market participants—bringing American hedge funds, family offices, and a fresh wave of entrants into the space.
$HYPE pulled back sharply after setting a new ATH of $75.51 on June 2, currently trading around $58.65 following a broader crypto market selloff on June 10 that made it the biggest top -100 loser on the day.
Despite the price action, fundamentals remain rock solid weekly active users have crossed 200k, the Assistance Fund has bought back over $2B worth of HYPE, and Citrini Research just dropped a bullish report calling it one of the most compelling plays in crypto right now.
The correction looks structural rather than fundamental, and with RSI neutral at 52–53 and strong support holding at $32–$34, the setup favors patient bulls watching for a reclaim above $60.
Arthur Hayes dumps $18M HYPE_: BitMEX founder sold all 247K HYPE tokens ∼$18M on June 7. Reason: more competition in perpetuals trading. Price slid ∼10% from $75 to $62
_$700M unlock drops_: On June 6, 237-238M HYPE from monthly vesting hit the market for contributors. That’s ∼23.8% of total supply and helped drive the 12% weekly decline.
Yesterday (June ), Hyperliquid executed a scheduled $700 million token unlock, flooding more HYPE into circulation and contributing to a 12% weekly price drop down to around $59.
The token hit an all-time high of $75.51 on June 2, meaning it's currently sitting about 25% below that recent peak, with a 4% drop in the last 24 hours.
Hyperliquid ETF, and HYPE was notably the only major crypto ETF to stay in the green while BTC, ETH, SOL, and XRP ETFs bled $4.4 billion over 13 sessions.
If $HYPE holds above $70 support (its previous ATH), it could target $80. A break below risks a pullback toward $62.50, especially if US jobs data on June 5 disappoints.
$HYPE set a fresh all-time high of $69.45 on May 31, 2026. With a 24-hour surge above 8%, its market cap has climbed to $17.6 billion. Having traded between $20–$30 earlier in 2026,
HYPE has delivered triple-digit gains year-to-date, highlighting Hyperliquid’s strength as a Layer-1 blockchain built specifically for perpetual futures trading.