Hyperliquid (HYPE) continues to display strong growth. climbing to a new all-time high of $88 earlier today. CoinGecko data shows that HYPE’s price has risen by 5.2% in the last 24 hours, 18.5% in the 14-day charts, and more than 51% over the last month. Let’s discuss what’s behind the latest bullish push and if the asset can hit $100 next.
Why Did Hyperliquid Hit An All-Time High Today?
Hyperliquid (HYPE) has been one of the top performing cryptocurrencies of 2026. The asset saw increased price action after the Hyperliquid exchange experienced a rise in users earlier this year. Traders flocked to the platform to trade oil futures. Hyperliquid became an attractive destination due to its 24/7 trading availability. The platform saw increase fee collection, which it uses to buy back its native HYPE token. A surge in buy backs led to lower circulating supply, causing the asset’s price to spike.
Hyperliquid’s (HYPE) latest price upswing began after President Trump stated at his White House cryptocurrency event that Chair of the Commodity Futures Trading Commission.(CFTC) chair Michael S. Selig is working towards launching the platform in the US. The developments may have led to increased investor sentiment. However, we do not have any exact date for when the exchange could make its US debut.
Hyperliquid (HYPE) hitting a new all-time high also comes amid a larger market-wide rally. The cryptocurrency market began rallying after Federal Reserve Governor Christopher Waller said that they may keep interest rates unchanged if inflation remains the same. Many market participants also expect the Federal Reserve to lower rates later this year.
Also Read: Bitcoin Hits $82,000 Amid Market-Wide Rally: Why Is Crypto Up?
If the Hyperliquid exchange is launched in the US, the platform’s native token will most likely experience another upward push. HYPE’s price could potentially even hit $100 by the end of this year.