Unfazed by Bull or Bear, HYPE Hits New All-Time High After 8 Months

BlockBeats News, May 21st, according to HTX market data, HYPE surged above its previous high of $59.3, currently trading at $59.6978, hitting a new all-time high after 8 months.

Despite the prevailing belief that the crypto market is still in a bearish phase, HYPE's HIP-3 ecosystem project, trade.xyz, has gained significant traction, attracting numerous traditional and web3 institutions to continue accumulating.

The Hyperliquid ETF (THYP) launched by the crypto asset management firm 21Shares began trading last Tuesday, with trading activity gradually increasing. The daily trading volume has reached a level of several tens of millions of dollars, about 8 times higher than the first day's volume of $1.8 million.

Furthermore, multiple institutions and whales have recently increased their holdings of HYPE: a16z has been accumulating large amounts of HYPE since August 2025, with a total position of 9.18 million HYPE tokens (approximately $356 million); Grayscale's associated address purchased over 510,000 HYPE tokens and staked them (around $24.95 million). The Anchorage-associated wallet once again withdrew 142,308 HYPE tokens from a CEX (approximately $7.38 million). The "BTC OG Whale Insider" agent also acquired 42,524 HYPE tokens (about $2.33 million).