HYPE hits $62 all-time high as Hyperliquid becomes crypto's on-chain Wall Street!

Hyperliquid's native token HYPE crossed $60 for the first time, reaching $62 and posting a 120% year-to-date gain while Bitcoin, Ethereum, and Solana have shed 33%, 53%, and 65% respectively since September 2025. The platform's total value locked surpassed $5 billion for the first time since October 2025, and open interest hit a six-month high near $10 billion — a stark divergence from the broader market's 36.5% decline in total crypto market cap.

The structural catalyst is institutional adoption. Bitwise and 21Shares launched HYPE-tied ETFs in mid-May, already managing $81.13 million in assets with trading volumes approaching $100 million — up 42% since launch. Velo data shows over 40% of HYPE's recent price gains occurred during US trading sessions, even as US residents remain geofenced from the platform itself.