Hyperliquid’s native token, HYPE, recently climbed to a record high above $73, as growing trader interest and optimism continued to build around the project.
According to Santiment, social activity and positive sentiment surrounding the token have surged across X, Reddit, Telegram, and other crypto communities.
Soaring Social Interest
The analytics platform reported that HYPE’s social dominance has climbed to its highest level of 2026. Santiment found that positive commentary has risen alongside the token’s price, amidst growing confidence among traders as Hyperliquid continues to stand out as one of the market’s strongest-performing projects.
Several developments have contributed to the momentum, including growing perpetual futures trading volume, the continued expansion of Hyperliquid’s decentralized trading infrastructure, and increasing recognition of the platform as a credible competitor to centralized derivatives exchanges.
Other recent initiatives, such as the launch of new trading products, rising protocol revenues, and speculation about future ecosystem growth, were also some of the factors supporting investor confidence. As these developments have attracted attention, discussions surrounding HYPE have accelerated, making it one of the most widely discussed crypto assets.
From a technical perspective, crypto analyst Ali Martinez believes HYPE’s rally may still have room to run. He noted that previous sell signals have been invalidated and identified $97 and $163 as potential upside targets if the token’s momentum continues.
Wall Street Takes Notice
A similarly bullish view was recently shared by Bitwise Chief Investment Officer Matt Hougan, who described Hyperliquid as one of the most important crypto projects to emerge in recent years. The exec asserted that the platform has evolved into a financial “super-app” offering access to multiple asset classes beyond crypto.
He also said Hyperliquid represents a new generation of crypto tokens designed to accrue value from the outset, citing its buyback-driven model. Based on these factors, Hougan further argued that HYPE remains significantly undervalued despite its strong performance.
Investor appetite for HYPE is also evident in the ETF market. After 21Shares launched the first US spot Hyperliquid ETF under the THYP ticker, Bitwise followed with BHYP. The two funds have attracted more than $57 million and nearly $80 million in inflows since their respective debuts, according to SoSoValue.
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