$HYPE is currently trading above $62, following a fresh all-time high as Hyperliquid continues to distance itself from the broader market. What makes this interesting: the rally is no longer fueled purely by speculation. → Spot HYPE ETFs are seeing solid inflows → Hyperliquid has allocated over $1 billion to buybacks → Open interest and trading volume are surging → Wall Street interest in on-chain perp infrastructure is picking up speed The market is starting to view Hyperliquid not as just another altcoin… but as crypto’s equivalent of an on-chain Nasdaq. #BTC Price Analysis#