Hyperliquid’s HYPE token climbed back above $62 on Tuesday after dipping below $59 on Monday evening.
At press time, the token traded around $62.1, extending its seven-day gain to more than 28%.
HYPE has now gained more than 55% in the last two weeks and nearly 46% over the past month.
Daily trading volume also remained elevated above $1.1 billion, showing that momentum around the decentralised derivatives platform has not slowed despite recent volatility.
The HYPE price rebound comes amid a combination of institutional inflows, record trading activity, and the launch of new prediction market products on the Hyperliquid network.
Hyperliquid ETF inflows and institutional demand
One of the biggest drivers behind the recent rally has been the rise in institutional exposure tied to HYPE-related investment products.
Data from CoinGlass shows that Hyperliquid ETFs attracted nearly $101 million in inflows over a ten-day period.
Asset manager Bitwise has emerged as one of the major participants through its BHYP product, which reportedly holds around $56 million in assets.
The inflows have added another layer of demand to a token that was already benefiting from strong trading activity on the Hyperliquid platform.
Notably, the derivatives exchange has continued posting high volumes in recent weeks as crypto traders increased exposure to perpetual futures markets.
Hyperliquid’s total value locked has also climbed above $5.5 billion, reinforcing the platform’s growing presence in decentralised finance.
Launch of prediction markets is another growth narrative
The launch of Hyperliquid’s prediction markets has also become a major talking point among traders.
The platform recently introduced validator-settled markets tied to real-world events, including US inflation data and Federal Reserve interest rate decisions.
Markets linked to the May Consumer Price Index report and the June Fed rate decision are already live on the network.
Hyperliquid also approved a prediction market tied to the UEFA Champions League final, showing that the system is expanding beyond macroeconomic events.
Unlike some existing prediction market platforms that rely on external oracle systems, Hyperliquid uses its own validator network to settle outcomes.
That means validators running the blockchain infrastructure also verify and finalise event results.
The prediction markets are fully collateralised and use binary settlement, where contracts resolve at either zero or one depending on the final outcome.
Although current volumes in these markets remain relatively small, traders are paying close attention to the broader implications for the ecosystem.
The addition of macro and event-based trading products gives Hyperliquid exposure to another growing segment of crypto trading.
It also creates a new source of fees beyond perpetual futures.
Technical setup hints at a possible $64 breakout
The current rebound comes after HYPE briefly pulled back from its all-time high near $64.4 reached earlier this week.
Notably, after breaking above previous highs, Hyperliquid (HYPE) seems to have entered what traders call price discovery territory, where there is little historical resistance overhead.
That often leads to larger price swings as the market relies on momentum and Fibonacci extension levels to identify targets.
And as long as the Hyperliquid price remains above the $58.95 support, the current setup points to a possible $64 breakout as noted by GONZO in his prediction on May 26, where he had hinted at the pullback that has already happened.
If bulls manage to push the token above its recent all-time high, the next technical targets being discussed by traders sit near $76 and $89 based on extension models used during strong momentum phases.
But there is a risk of further correction since the RSI indicator is still in the overbought region despite showing a slight correction back below 70.
The post Hyperliquid coin price climbs back above $62: here’s why $64 is within reach appeared first on Invezz
