HYPE Tops $50 as Hyperliquid Rally Draws Support From ETFs and New Markets

Hyperliquid's HYPE token rose above $50 on Wednesday for the first time since September. Bitwise CIO Matt Hougan said the market is undervaluing Hyperliquid and estimated the platform is generating $800 million to $1 billion in annualized revenue. The rally also followed Trade.xyz launching a synthetic SpaceX pre-IPO perpetual on Hyperliquid and recent HYPE fund launches from 21Shares and Bitwise.
HYPE-3.26%
SPACEX1.62%
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