Key Insights:
- Hyperliquid (HYPE) crypto price approaches $60, demonstrating sustained bullish momentum observed in the first half of August.
- Hyperliquid ETFs did not sell any HYPE last week, signaling elevated confidence among institutional holders.
- Declining network activity risks curtailing momentum as DEX volume and address activity cool to multi-week lows.
Hyperliquid crypto has just wrapped up another week of recovery, aiming for a weekly hat trick. The native coin kicked off the current week maintaining the same bullish momentum seen previously, while findings point to continued confidence among institutional investors.
At the time of writing, Hyperliquid traded at $59.50 following a 24-hour rally exceeding 4%, marking its highest price point so far this month.
This positive performance highlights a strong market rebound following two difficult months of bearish action in June and July. The Relative Strength Index (RSI) clearly demonstrates strength above the midpoint, though prices are simultaneously nearing the $60 mark, where momentum and consolidation are expected to face a test.
Whether the HYPE token preserves its upward trajectory or experiences a pullback will likely depend on the underlying drivers of its most recent rally.
Hyperliquid ETFs Offer Strong Support To The Bulls
As a leading exchange where trades settle through smart contracts, not a company.">decentralized exchange (DEX), Hyperliquid has drawn significant interest, particularly from institutional investors who now wield substantial influence over the HYPE token.
According to Arkham, Hyperliquid ETFs maintained their HYPE holdings entirely last week without selling a single coin. Instead, they held onto existing assets and expanded their portfolios by acquiring roughly $2.8 million worth of Hyperliquid crypto.
Healthy institutional demand highlights ongoing optimism regarding the short- and long-term outlook for Hyperliquid crypto. Even so, spot market flows remained sluggish, showing that the broader retail market has yet to catch up.
Meanwhile, derivatives activity surrounding HYPE experienced a sharp uptick, with trading volume jumping 63.8% over a 24-hour period. Despite this growth, volumes stayed close to multi-month lows, remaining too small to trigger immediate liquidation concerns.
Strong institutional backing has served as the primary catalyst for Hyperliquid’s bullish run. If this trend persists, the HYPE price could sustain the momentum witnessed throughout the early part of August.
Will HYPE Price Defy Declining Network Activity?
Hyperliquid’s status as a top DEX heavily contributed to institutional confidence. This raises the question of how market conditions might impact sentiment if underlying metrics begin to slip.
The wider crypto market has spent the past several weeks trapped in a consolidation phase, fueling uncertainty over whether asset prices would stage a rebound or suffer a breakdown.
Consequently, on-chain activity and trading volumes have taken a hit over recent weeks, marking a sharp departure from earlier, more active market phases that funneled massive volume into the Hyperliquid ecosystem.
Data from DeFiLlama reveals that weekly address activity dropped to its lowest point since March 2025, a trend mirrored by falling DEX volumes.
Specifically, the platform recorded $735 million in volume between August 10 and August 16—levels not seen on the Hyperliquid DEX since shortly after mid-March 2025.
While declining DEX volumes point to a drop in organic demand for Hyperliquid crypto, robust institutional demand has acted as a vital buffer. Nonetheless, shrinking network activity introduces a clear risk factor that could weigh down the HYPE token price in the near future.
FAQ
- What is the recent price milestone for Hyperliquid (HYPE)? HYPE approached $60 after gaining over 4% in 24 hours, hitting a two-week high and its highest price for the month.
- Are institutional investors selling their HYPE holdings? No. Arkham reported that Hyperliquid ETFs did not sell any HYPE last week and added about $2.8 million in holdings.
- What is driving institutional confidence in Hyperliquid? Institutional interest is largely fueled by Hyperliquid’s strong position as a top exchange where trades settle through smart contracts, not a company.">decentralized exchange (DEX).
- Is network activity currently increasing or decreasing? Network activity has cooled, with weekly address activity and DEX volumes dropping to their lowest levels since March 2025.
