Hyperliquid's HYPE Hits All-Time High of $76 Before Pullback to $67.14

According to The Block, Hyperliquid's native token HYPE recently hit an all-time high of over $76 before declining 10% to $67.14 as of Thursday afternoon ET. The surge was driven by strong inflows into newly launched spot HYPE ETFs, robust exchange revenue generation, and Hyperliquid's active token buyback program.

Hyperliquid's decentralized exchange recorded a major trading milestone when its SpaceX shares perpetual contract generated $1.4 billion in volume on its IPO debut day, accounting for 30% of all HIP-3 volume that session.