Hyperliquid (HYPE) 'Holds Up' Amid Bitcoin (BTC) Outflows... Touches All-Time High

▲ Hyperliquid (HYPE), USA/AI-generated image

Amid over $6.5 billion in outflows from Bitcoin (BTC) spot ETFs, Hyperliquid (HYPE) maintained its position near an all-time high. Hyperliquid's strength was evident despite capital outflows across cryptocurrency investment products.

According to the cryptocurrency specialized media Bitcoin.com on July 7 (local time), US Bitcoin spot ETFs recorded net outflows for 8 consecutive weeks. Luke Nolan, Senior Research Analyst at Coinshares, stated, "The recent cryptocurrency market has received little help from capital flows."

Since May, over $6.5 billion has flowed out of Bitcoin spot ETFs. Ethereum (ETH) spot ETFs also showed weakness during the same period. Strategy also sold 3,588 BTC in one week to secure funds for preferred stock dividends.

Nolan emphasized, "Even in such a challenging market environment, Hyperliquid continues to trade near its all-time high." In the US, three types of spot ETFs tracking Hyperliquid are traded. They have recorded net inflows every week since their launch in May.

In June alone, approximately $161 million flowed into Hyperliquid spot ETFs. The assets under management (AUM) of the three products in the US increased to approximately $336 million, and the AUM of European Hyperliquid investment products also exceeded $55 million. In contrast, Bitcoin spot ETF net outflows expanded from approximately $2.43 billion in May to a record high of $4.06 billion in June.

Nolan evaluated, "By using 99% of platform fees for systematic Hyperliquid buybacks, they are directly linking protocol activity with token demand." He stated that, when compared by market capitalization, Hyperliquid represents one of the strongest trends among cryptocurrency ETF launch cases.

[Key Summary of the Article]

-Over $6.5 billion has flowed out of US Bitcoin spot ETFs since May.

-Hyperliquid maintained its position near an all-time high, and related spot ETFs have recorded net inflows every week since their launch in May.

-Coinshares highlighted Hyperliquid's buyback structure, which utilizes 99% of platform fees.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*