*Hyperliquid [HYPE] reclaimed ATH gaining +133% in last 90 days * $HYPE has been the standout performer of the last quarter – up 133% in 90 days, knocking on its all-time high of $64.2B.
*What's driving it: *• Bitwise and 21Shares launched spot $HYPE ETFs in May, pulling ~$70M in cumulative inflows • February's Iran-driven macro volatility pushed record perp volume through Hyperliquid • Coinbase became the official USDC liquidity provider • The protocol has funneled total of $1.16B in fees into open-market #hype buybacks • Only ~26% of #hype is in circulation with 74% still locked
Where next? Bulls eye Arthur Hayes' $150 target and a possible BNB flipping, sceptics warn the buyback fades if volume cools. It all hinges on whether Hyperliquid can keep volume high.