Hyperliquid Price Rallies as Institutional Demand Soars

Hyperliquid's price has been rallying over the past week, with a gain of 4% on Wednesday. This surge comes after last week's impressive 43% rise, and bulls are now eyeing a fresh record high above $83.30.

The 'Everything Exchange' is seeing increased demand from both institutional investors and users, with Exchange Traded Funds (ETFs) recording daily inflows of over $5 million in each of the last two days. Daily revenue has also remained above $2.75 million over the past seven days, a testament to renewed risk appetite among traders following the US Treasury's decision to double the long-dated bond buyback operations.

From a technical perspective, momentum is still elevated, with the Relative Strength Index (RSI) hovering near 77 in overbought territory. However, this could be a sign that buyers are still dominating the market, and Hyperliquid is inching closer to $83.00 on Wednesday.