HYPE Price Rebounds on Institutional Buying and Exchange Outflows

Hyperliquid's HYPE token has seen significant price gains after institutional buying and exchange outflows. On August 13, Bitwise purchased 28,085.8 tokens worth $1.52 million from Nonco and transferred them to its BHYP custody wallet. This move removed the tokens from immediate exchange-side supply.

The asset manager's HYPE purchase added a visible institutional bid during a wider correction from July highs. Bitwise operates BHYP, a spot Hyperliquid fund trading on the New York Stock Exchange.

Exchange outflows also provided supportive signals, with net exchange flows reaching negative $1.46 million during the measured period. Negative netflows mean withdrawals exceeded deposits, reducing tokens readily available on tracked venues.