Hyperliquid (HYPE) Surges Toward ATH Fueled by Bybit Listing and Grayscale’s Stamp of Approval

Hyperliquid (HYPE) is making waves as it flirts with all-time highs—thanks to a high-profile Bybit listing and Grayscale's institutional backing. The once-obscure altcoin now has traders buzzing, liquidity flowing, and skeptics scrambling for excuses.

Why the sudden momentum? Two words: exchange clout. Landing a Bybit listing isn't just a liquidity boost—it's a credibility rocket. Add Grayscale's endorsement (because nothing screams 'mainstream' like a trad-fi giant dipping its toes in DeFi), and suddenly HYPE isn't just another memecoin.

But let's not pop champagne yet. The crypto casino always has a few surprise twists—especially when Wall Street starts 'discovering' assets they ignored at $0.10. Will HYPE sustain the hype, or is this another case of buy-the-rumor, sell-the-Grayscale-news?

Will the HYPE Token Hit an All-Time High in July? 

BeInCrypto reported earlier that HYPE underwent a price correction after hitting a record high on June 16. However, the token remained resilient and reclaimed most of its gains. In fact, the rally gained further momentum from earlier this week with HYPE experiencing back-to-back surges.

According to the latest data, HYPE had appreciated 7.62% over the past day. At the time of writing, the altcoin was trading at $44.55, just 2.2% away from its previous peak. 

Meanwhile, the 24-hour trading volume surged to $421.8 million. This represented a 40.2% increase, reflecting increased trader activity.

While the positive momentum isn’t isolated, as the broader market is also experiencing an uptick, HYPE has several additional factors supporting its price growth. Today, Bybit, a leading centralized cryptocurrency exchange, announced HYPE’s listing on its spot trading platform.

“We are excited to announce the upcoming listing of Hyperliquid (HYPE) on our Spot trading platform! Hyperliquid (HYPE) and its pairs will be listed on Main Trading Zone,” the announcement read.

The exchange added that deposits for HYPE will open at 3:00 AM UTC. Following this, the token will officially be listed for trading at 9:00 AM UTC. Withdrawals for HYPE will become available starting at 10:00 AM UTC.

Grayscale’s decision to include HYPE in its Q3 2025 assets under consideration list has further fueled optimism. It signals that institutional investors recognize the token’s growth potential. This could attract further interest, boosting HYPE’s legitimacy and future adoption prospects.

Besides this, the Hyperliquid platform’s growth has also contributed to HYPE’s growth. Earlier this week, BeInCrypto reported that Hyperliquid’s daily revenue consistently exceeded Ethereum’s and Solana’s over the past three months. 

Furthermore, the DeFi protocol is also a leader in the perpetual trading market, capturing 60% of the market share. Hyperliquid’s latest integration with Phantom wallet has further expanded its reach.

Thus, all these factors paint a bullish picture for the HYPE token. Whether or when it will close the 2.2% gap from its ATH remains to be seen.