#DailyPolymarketHotspot

Market Lesu, Hyperliquid Just Achieves All-Time High

The native token of the perpetual DEX platform, Hyperliquid (HYPE), successfully broke into the price discovery zone after hitting a new all-time high of $73.7 on Monday (6/1) trading. This achievement caused HYPE to move anomalously against the trend, considering large-cap cryptocurrencies like Bitcoin and Ethereum are still held below their peak levels due to sluggish global macro sentiment. The price surge also extended HYPE's bullish trend, which has soared more than 70% in just the past month.
​This positive trend is supported by two main pillars, namely ecosystem expansion and the influx of institutional capital. On the development side, Hyperliquid has just expanded its services by launching an internal prediction market feature, which coincided with positive sentiment surrounding the approval of the first regulated perpetual contract by the US CFTC.
Meanwhile, on the fund flow side, CoinShares reports that Hyperliquid's investment products successfully attracted an inflow of $10.8 million amid the massive outflows hitting the global crypto market. This accumulation was also reinforced by the 21Shares Hyperliquid spot ETF product (THYP), which surged 50% in two weeks, as well as a $192 million buyout from an affiliated wallet of a16z.
​Beyond external sentiment factors, HYPE's rally was also strongly driven by the protocol's highly aggressive automatic buyback mechanism. Fundamentally, Hyperliquid is designed to redirect 98% of total trading fee revenue to repurchase HYPE tokens in the spot market. This continuously operating system has reportedly absorbed about 14% of the circulating HYPE supply.