HYPE Hits All-Time High of $59.69 on May 21, Breaking $59.30 Peak After 8 Months

According to BlockBeats, HYPE broke its previous high of $59.30 on May 21, reaching $59.69 and marking an all-time high 8 months after the last peak. The asset gained traction following the success of HIP-3 ecosystem project trade.xyz, attracting sustained institutional accumulation.

21Shares' Hyperliquid ETF (THYP) launched last week, with daily trading volume climbing to tens of millions of dollars, approximately 8 times higher than the initial $1.8 million. Recent institutional activity includes a16z accumulating 9.18 million HYPE since August 2025, Grayscale-linked addresses acquiring over 510,000 HYPE, and Anchorage withdrawing 142,308 HYPE from exchanges.