HYPE rose 1.66% on August 7 to $56 even as JPMorgan warned that Hyperliquid's market share in trading and prediction markets could shrink. ETF inflows extended to two straight days, and corporate treasuries have built a stake in the token that dwarfs their exposure to Bitcoin or Solana.
Hyperliquid's HYPE token climbed 1.66% on August 7 to trade at $56, even as JPMorgan warned that the exchange's dominance in crypto trading and prediction markets could erode. The rally rides two straight days of ETF inflows, and corporate treasuries have built a stake in HYPE that dwarfs their exposure to Bitcoin or Solana.
ETF Inflows Continue Despite JPMorgan's Warning
HYPE ETFs pulled in $2.84 million on August 6, extending inflows to two straight days even though demand stays weaker than in June 2026. The gains come despite JPMorgan warning that Hyperliquid's share in prediction markets and crypto trading could shrink as regulated U.S. platforms expand into the sectors it dominates.
JPMorgan's analysts flagged "significant challenges to the market share of decentralized platforms such as Hyperliquid", casting doubt on whether Hyperliquid could overtake Solana and XRP in market cap. Still, the exchange is expanding into prediction markets under its HIP-4 permissionless testnet rollout.
Corporate Treasuries Deepen Their HYPE Bets
Institutional appetite extends well beyond ETFs. Corporate treasuries hold 31 million HYPE tokens, or 13.3% of the circulating supply — a concentration that dwarfs the roughly 4.9% corporate treasuries hold in Bitcoin or the roughly 2.8% they hold in Solana, according to Crypto Briefing. Hyperliquid Strategies Inc., which trades on Nasdaq under the ticker PURR, holds roughly 29.3 million of those tokens, worth more than $1.6 billion after deploying over $216 million since going public through a reverse merger in December 2025.
Chart Points to $64, but $50 Support Is the Risk
On the charts, HYPE is forming a cup-and-handle pattern that usually signals a bullish long-term forecast for the token. A close above $57 resistance for three straight days could add 12% and push HYPE to $64, and an RSI reading of 57 suggests the bullish momentum is strong. Still, a pullback beneath the $50 psychological support is the risk if buyers stall.
Derivatives data point the same way. Open interest has climbed 1.19% to $2.3 billion.
The long/short ratio sits at 1.05, pointing to more long buyers than short sellers. A positive funding rate suggests those longs are betting on further gains, though long liquidations have outpaced short liquidations for two straight days, suggesting price swings are wiping out long buyers who remain bullish on HYPE.
Sources: CoinGape, Crypto Briefing
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