Hype Without Support: Hyperliquid Surges Amid Institutional Apathy
Hyperliquid (HYPE) outperformed all other top 10 cryptocurrencies in August, gaining 13.99% over the month.
This surge puts HYPE's performance roughly three times that of Solana (SOL), which rose by 4.26%, and six times that of Bitcoin (BTC), up 2.07%
However, despite this impressive gain, exchange-traded fund flows indicate institutional demand for HYPE has yet to return in any sustained form.
Nansen data show whales and smart traders holding net short positions on the token, with funding standing at 0.00125% per hour, near 10.95% annualized, so longs currently pay shorts.