{"id":72862,"date":"2026-05-21T13:33:40","date_gmt":"2026-05-21T13:33:40","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/hyperliquid-wipes-out-36-5m-shorts-as-hype-climbs-within-cents-of-ath\/"},"modified":"2026-05-21T13:33:40","modified_gmt":"2026-05-21T13:33:40","slug":"hyperliquid-wipes-out-36-5m-shorts-as-hype-climbs-within-cents-of-ath","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/hyperliquid-wipes-out-36-5m-shorts-as-hype-climbs-within-cents-of-ath\/","title":{"rendered":"Hyperliquid Wipes out $36.5M Shorts as HYPE Climbs Within Cents of ATH"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">HYPE surged to $59.06 on Thursday morning, putting the token just cents away from its 2025 all-time high.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">The new AQAv2 framework ties Hyperliquid revenue to deposits, aiming for $135M to $160M near term.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Critics warn of a bubble ahead of Hyperliquid unlocking 2.54% of the token supply for its dev team.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>HYPE Approaches Record Highs<\/h2>\n<p>Hyperliquid (HYPE) neared its all-time high Thursday morning as the token surpassed the $59 threshold for the first time in 2026. Market data shows that HYPE surged to $59.06, its highest mark so far this year and a few cents shy of its Sept. 18, 2025, record high of $59.33.<\/p>\n<p> <iframe src=\"https:\/\/markets.bitcoin.com\/crypto\/hyperliquid\/embed\" width=\"100%\" style=\"max-height:500px;height:500px;border:none;overflow:hidden;border-radius:4px\" scrolling=\"no\" title=\"hyperliquid market data\"><\/iframe> <\/p>\n<p>The price action drove HYPE\u2019s daily gains to approximately 20%, making it one of only two high-capitalization <span>altcoins<\/span> to post double-digit gains within a 24-hour period; the <span>privacy coin<\/span> zcash was the other. Meanwhile, HYPE\u2019s latest rally pushed its weekly gains close to 50% and briefly lifted its market capitalization above $14 billion, toppling WBT as the 11th-ranked <a href=\"http:\/\/www.bitcoin.com\/get-started\/a-quick-introduction-to-crypto\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">cryptocurrency<\/a>. The surge triggered the <a href=\"http:\/\/www.bitcoin.com\/get-started\/understanding-liquidation-on-perp-dex\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">liquidation<\/a> of $36.5 million in short bets, compared to approximately $1.4 million in wiped-out long positions.<\/p>\n<p>Despite later retreating to just under $59, HYPE\u2019s multi-week upward momentum appears to validate Hyperliquid\u2019s strategic shift to establish USDC as its official aligned quote asset and Coinbase as its treasury deployer. As recently reported by <a href=\"https:\/\/www.bitcoin.com\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">Bitcoin.com<\/a> News, Coinbase stepped in under a new framework called AQAv2, placing the exchange at the center of USDC reserve management on the platform, while Circle handles the technical logistics via its Cross-Chain Transfer Protocol.<\/p>\n<p>Market analysts note that this architecture links Hyperliquid\u2019s revenue to user deposits rather than <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-volatility\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">volatile<\/a> trading volumes, insulating token buybacks during broader market downturns. Near-term yield-sharing revenue is <a href=\"https:\/\/x.com\/ManoppoMarco\/status\/2057250140910731343\" target=\"_blank\" rel=\"noopener noreferrer\">projected<\/a> to hit between $135 million and $160 million, with a potential upside of $300 million to $500 million if asset balances expand.<\/p>\n<p>Beyond the Coinbase integration, demand for HYPE has been catalyzed by the May 15 launch of spot exchange-traded funds (ETFs) by 21Shares and Bitwise. The successful <a href=\"https:\/\/news.bitcoin.com\/hyperliquid-etf-inflows-outpace-bitcoin-etfs-during-debut-trading-week\/\">ETF debuts<\/a> have helped the asset <a href=\"https:\/\/news.bitcoin.com\/hyperliquid-jumps-5-as-bitwises-4-3m-hype-etf-debut-triggers-short-squeeze\/\">brush off<\/a> recent reports that legacy venues CME and ICE are lobbying regulators to crack down on Hyperliquid.<\/p>\n<p>However, despite the growing enthusiasm, some critics warn that the asset may be entering a bubble phase. Social media commentator Richard Dang <a href=\"https:\/\/x.com\/RichardDang\/status\/2057265145559294085\" target=\"_blank\" rel=\"noopener noreferrer\">suggested<\/a> that institutional interest from traditional finance might signal a market top.<\/p>\n<p>\u201cWhen Wall Street starts mentioning a coin, that\u2019s often the moment when gradually exiting has never been a bad indicator,\u201d Dang warned. \u201cThe queue waiting to unstake hyperliquid: native is showing signs of increasing lately, with tens of millions of dollars waiting to be released.\u201d<\/p>\n<p>Dang also pointed to the upcoming unlock of 2.54% of the total supply allocated to the Hyperliquid development team as another potential headwind.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/hyperliquid-wipes-out-36-5m-shorts-as-hype-climbs-within-cents-of-ath\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways HYPE surged to $59.06 on Thursday morning, putting the token just cents away from its 2025 all-time high. The new AQAv2 framework ties Hyperliquid revenue to deposits, aiming for $135M to $160M near term. Critics warn of a bubble ahead of Hyperliquid unlocking 2.54% of the [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":72863,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/72862"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=72862"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/72862\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/72863"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=72862"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=72862"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=72862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}