Get Whale Status: Hyperliquid Price if It Reaches XRP and Bitcoin Market Cap

Key Takeaways

• Hyperliquid HYPE is up 146% from $21 to $64 in 2026, turning $100K into $247K while HYPE ETFs pulled $63.96M in their first 8 days
• The protocol sends 97-99% of trading fees to HYPE buybacks, with $1.16B already repurchased and a $1B token burn proposal pending approval
• Arthur Hayes called $150, but analyst Wise Advice projects $353 at the XRP market cap and $6,454 if HYPE ever matches the Bitcoin market cap

Hyperliquid price has quietly become one of the strongest stories in crypto this year. The HYPE token started 2026 near $21 after a steep correction, but it climbed to a record $64.24 on May 24. It is now among the 10 largest cryptocurrencies by market value. The move has also pulled fresh attention toward HYPE ETFs, which saw strong early inflows from investors looking for exposure beyond Bitcoin and Ethereum.

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Arthur Hayes Called $150 While Analysts See $353 at XRP and $6,454 at Bitcoin Cap

Some of the recent attention came from analysts comparing Hyperliquid’s HYPE with larger crypto networks by market cap. One widely shared model of HYPE’s price prediction revealed that the asset could reach around $353 if the token matched XRP’s valuation. At Ethereum’s market cap, the estimate moves above $1,000. At Bitcoin’s current size, the figure rises above $6,400.

The numbers are theoretical, but they reflect how quickly Hyperliquid has grown over the past few months. HYPE is up roughly 146% this year. It outperformed most large-cap crypto assets. A $100,000 position opened near the January lows would now be worth about $247,000 based on current prices.

At press time, HYPE was trading at $59.54 following a 6.64% drop over the past 24 hours. But the past couple of days have been eventful for the asset. The altcoin surged by 23.39% during the last seven days.

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HYPE ETF Demand and Buybacks Are Driving Attention

Institutional interest has also started picking up. Spot-style HYPE ETF products from Bitwise and 21Shares brought in close to $64 million during their first eight trading days, according to SoSoValue data. This was higher than early XRP ETF inflows over the same period.

At the same time, traders have been watching Hyperliquid’s buyback structure closely. The protocol directs most of its trading fee revenue toward buying back HYPE tokens from the market. Reports show more than $1.16 billion worth of HYPE has already been repurchased.

There is also a separate proposal under discussion that would permanently burn nearly $1 billion in tokens tied to an inaccessible assistance fund. Arthur Hayes recently said he sees HYPE reaching $150. This adds to the bullish sentiment around the project. Still, some analysts remain cautious after the token’s rapid rise over the past few weeks.

Currently, the debate around Hyperliquid price largely comes down to one question, whether decentralized perpetual trading platforms can grow into a market large enough to justify comparisons with assets like XRP, Ethereum, or even Bitcoin.

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