HYPE Token Hits Record, Pulls Back Amid Headwinds

Hyperliquid's native token, HYPE, is experiencing a pullback on Monday, September 7, 2026, following a significant rally that saw it reach a record high. The token, which had surged approximately 10% last week, was trading in negative territory on Monday, with analysts pointing to cooling momentum and potential downside risk. The token reached an all-time high of $89.67, according to market data, before settling around $88.21 on Monday. This recent surge extends a powerful six-month run, during which HYPE has gained about 175.9%. The token's performance has been bolstered by sustained institutional interest, particularly through exchange-traded funds (ETFs). HYPE-focused ETFs have recorded inflows for five consecutive weeks, signaling steady demand from institutional investors. Data indicates that combined net inflows into three major ETFs-Bitwise's BHYP, 21Shares' THYP, and Grayscale's HYPG-reached $356.58 million through September 4, with the funds holding $480.87 million in net assets. Bitwise's BHYP ETF has become the largest by holdings, accumulating approximately $166.3 million of HYPE since its launch.