Hyperliquid's HYPE Hits Record High of $62, Market Cap Surpasses $15 Billion as Institutional Demand Accelerates

According to CryptoSlate, Hyperliquid's native token HYPE surged to a record high of $62 this week, with its market capitalization exceeding $15 billion. The rally reflects accelerating institutional demand, with asset managers Bitwise and 21Shares launching exchange-traded funds tied to HYPE earlier this month. The products accumulated more than $81 million in assets under management and attracted nearly $48 million in net inflows shortly after launch.

Activity on Hyperliquid's decentralized trading platform continues to expand, with total value locked surpassing $5 billion and open interest nearing $10 billion, both record levels for the platform. HYPE has gained approximately 120% since the start of 2026, outperforming the broader cryptocurrency market during a period when major cryptocurrencies posted significant declines.