#hype has really gotten a bit 'Wall Street' lately. The first U.S. spot HYPE
#etf officially hit Nasdaq today, putting Hyperliquid right in front of institutional funds.
What does this mean? Simply put, before, only the crypto circle was playing with HYPE, but now traditional finance can enter the game more easily.
What's even more intense is that the collaboration between Hyperliquid and wallets like Phantom has already started raking in serious profits. Just from the Phantom partnership alone, Hyperliquid has generated $20 million in revenue. There are now over 100 teams plugged into its trading system, and even commodities, indices, and prediction markets are starting to get involved.
On-chain data is also quite staggering. In the past 7 days, whale holdings surged by 272%, with the percentage of holdings in May jumping from 47% to 70%, showing that big money is still hoarding aggressively.
However, risks are also increasing, as the supply of HYPE on exchanges has skyrocketed by 123%. This means that while the market is scrambling to accumulate, there are also players ready to cash out profits at any moment.
Now, the biggest question is: after the ETF launches, can HYPE truly hold above $40?