Hyperliquid Surges on Strong Institutional Demand

Despite recent market volatility, Hyperliquid's institutional investors have remained resilient. According to data from Arkham Intelligence, all of its ETFs maintained zero sell-offs throughout last week. In fact, the funds either recorded net purchases or held firmly to their existing holdings of $HYPE.

The sustained demand from these ETFs has fueled a strong recovery for Hyperliquid, with prices surging by over 16% from weekend lows. This growth is attributed to renewed interest in the asset from its institutional investors.

Notably, Bitwise and Grayscale were among the most notable buyers in the market last week, collectively purchasing about $2.8 million worth of $HYPE. Analysts believe that if this trend continues, the asset could be set for further upward movement.