Hyperliquid HYPE Price Rally Targets $105 as ETF Demand and Revenue Growth Strengthen Outlook

Hyperliquid’s native token HYPE has surged more than 30% in the past five days, reaching a new all time high near $74. The rally follows a breakout from a bullish pennant pattern, a technical formation often associated with continued upward momentum.

Derivatives Market Shows Strong Bullish Sentiment

Investor confidence is also visible in the derivatives market. Open interest in Hyperliquid futures has climbed to a record $3.5 billion, up significantly from $1.41 billion at the start of the year.

Funding rates remain positive, suggesting traders are maintaining a bullish outlook. Since May 20, short sellers have faced more than $126 million in liquidations, highlighting the strength of the ongoing rally.

Hyperliquid Revenue and ETF Inflows Support Growth

Beyond technical indicators, Hyperliquid’s fundamentals continue to improve. The network recently became the second largest blockchain by application revenue, generating $57.9 million over the past 30 days.

The platform directs 99% of protocol fees toward purchasing HYPE tokens through its Assistance Fund, creating consistent market demand.

Institutional interest is also growing. Spot HYPE exchange traded funds launched in the United States on May 12 and have already accumulated more than $122 million in net assets, adding further support to the token’s long-term growth story.