HYPE Climbs Double Digits as Hyperliquid ETFs Add $25.5 million
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Hyperliquid 's sustained uptrend continued into Thursday, as the decentralized exchange's token surged to an intraday high of $58.97.
Key facts
The U.S. chipmaker released its first-quarter earnings on Wednesday, showcasing revenue of $81.6 billion, up 85% year-over-year, beating Wall Street estimates of $78.9 billion
That figure is 17 times higher than the token's daily Assistance Fund burn of roughly $1.4 million, per Dune Analytics
HYPE is currently trading at $57.20, up 15.3% on the day according to CoinGecko data
On prediction market Myriad, owned by Decrypt's parent company Dastan, user confidence has been fully validated: the contract on whether HYPE would hit $52 in May resolved to 100% as the token blew
Summary
Inflows to Hyperliquid ETFs hit $25.5M Wednesday, higher than the first five days of inflows combined. ETF demand follows HYPE’s stellar performance, which has led to more than a 100% rally this year. Bitwise shows strong support for Hyperliquid, committing 10% of ETF fees into the HYPE balance sheet. HYPE is currently trading at $57.20, up 15.3% on the day according to CoinGecko data.