HYPE jumps 60% to $34.90 as institutional accumulation and staking unlocks drive rally

Hyperliquid’s HYPE token surged about 60% to $34.90 on Wednesday, rising from $21.80 two days earlier, a move the report ties to institutional accumulation by Hyperliquid Strategies (PURR US) and reduced sell pressure after large staking unlocks. The 60% rally triggered more than $20 million in liquidations on bearish leveraged positions and prompted speculation of further gains toward $40.

Cointelegraph links the move to reports that a publicly listed company focused on digital asset reserves added HYPE to its balance sheet and to diminished selling following a major staking unlock. On-chain analysis cited an X user who flagged a 3.6 million HYPE accumulation initiated on Dec.

12, 2025 that was staked hours later via Anchorage custody, consistent with Hyperliquid Strategies’ operations. The report also notes another 460,000 HYPE moved from OKX and Bybit and staked via Anchorage. PURR is described as a Nasdaq-listed digital assets treasury company that originated from a merger with Rorschach, a SPAC sponsored by Paradigm and Atlas Merchant Capital.

The coverage says synthetic perpetual volumes and fees showed no significant changes and that Hyperliquid’s open interest totaled $8.5 billion on Tuesday, flat from one week prior. Hyperliquid’s official X account reported an all-time high in open interest driven by synthetic commodities, and CEO Jeff Yan reposted a snapshot suggesting Hyperliquid’s Bitcoin futures liquidity had surpassed Binance.

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