Hyperliquid Crypto Soars to Two-Week High on Institutional Support
The Hyperliquid (HYPE) crypto price has hit a two-week high at $59.5, fueled by sustained bullish momentum observed in the first half of August.
Hyperliquid ETFs, which have been actively investing in HYPE tokens, showed no signs of selling their holdings last week, indicating elevated confidence among institutional holders.
Despite this support, declining network activity poses a risk to the token's momentum. DEX volumes and address activity have cooled off to multi-week lows, with weekly address activity dipping to its lowest levels since March 2025.
The strong institutional positioning has been driving the bullish momentum in HYPE, but if this trend continues, it may not be enough to counteract the declining network activity. The token's price will likely test momentum and consolidation around $60.