Hyperliquid (HYPE) Price: SpaceX IPO Buzz and Regulated Futures Drive 7% Rally

TLDR

HYPE rose over 7% in 24 hours to trade near $60–$61, outperforming a flat Bitcoin market Kalshi launched CFTC-regulated HYPE perpetual futures on June 12, 2026, opening access for U.S. traders Arthur Hayes called the SpaceX IPO a “classic crypto grift,” warning insiders may dump on retail in July Futures open interest climbed to $2.56 billion, overtaking XRP’s $2.48 billion A falling wedge breakout on the 4-hour chart points to a potential target near $77.8

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Hyperliquid (HYPE) posted a gain of more than 7% in the 24 hours to June 12, 2026, trading near $60–$61 while Bitcoin held steady above $63,000 and Ethereum moved around $1,600.

Hyperliquid (HYPE) Price

Over the past month, HYPE has gained close to 50%, supported by growing trading volume and expanding platform activity.

Two events drove this week’s move. First, Kalshi launched CFTC-regulated HYPE perpetual futures on June 12, giving U.S. traders a new regulated route to gain exposure to the token.

Second, traders piled into Hyperliquid’s synthetic SPCX perpetual market to get exposure to SpaceX ahead of its public debut. Implied valuations on that market climbed above the IPO price, pulling in speculative demand.

Analyst Altcoin Sherpa said he was long HYPE going into SpaceX’s public debut, noting the event could bring “a ton of volume” and broader attention to Hyperliquid’s markets.

Currently long $HYPE going into the spcx IPO, I think that this is going to bring about a ton of volume and more eyes are going to be on it. Bitcoin looks pretty stable rn which is good for everything else. Let's see what happens. pic.twitter.com/zjEISbRcWb

— Altcoin Sherpa (@AltcoinSherpa) June 12, 2026

Arthur Hayes, meanwhile, called the SpaceX IPO a “classic crypto grift,” warning that insiders could begin selling into retail demand as early as July. His comments added fuel to speculation around the SPCX perpetual market on Hyperliquid.

LATEST: Arthur Hayes called the SpaceX IPO "a classic crypto grift," predicting insiders will start dumping on retail traders in July. pic.twitter.com/yPAMiEeS53

— CoinMarketCap (@CoinMarketCap) June 12, 2026

Fomo also launched perpetual trading on Hyperliquid and Trade.xyz infrastructure this week, letting users trade equity, pre-IPO, crypto, index, and commodity contracts on a single platform.

Open Interest Surpasses XRP

Futures open interest on HYPE rose 6.3% to $2.56 billion in 24 hours, pushing the token ahead of XRP, which sat at $2.48 billion after a smaller 2% daily gain.

Trading volume climbed 1.71% to $3.89 billion. Rising open interest alongside volume suggests new positions are being added, not just existing ones rolling over.

Hyperliquid processed roughly $10.4 billion in 24-hour perpetual futures volume. The platform’s fee-driven buyback model routes a portion of protocol revenue and at least 90% of USDC yield back into HYPE purchases on the open market.

Chart Setup: Falling Wedge Targets $77.8

On the 4-hour chart, HYPE broke out of a multi-week falling wedge that formed after the token hit its all-time high near $75.5 in early June. The breakout happened near the upper boundary of the wedge, with support holding around $54–$55.

Source: TradingView

The pattern’s measured move projects roughly 20% upside from the breakout zone, placing a target near $77.8.

The 4-hour MACD produced a bullish crossover, and the RSI recovered above the neutral 50 level. On the daily chart, HYPE is testing the 0.618 Fibonacci level at $61.39. A break above that opens the next resistance at $67.69.

The Supertrend indicator sits near $74.3, showing the longer-term trend has not fully confirmed bullish yet.

Short liquidation clusters between $61.5 and $63 on the CoinGlass heatmap could act as a magnet for price if buying pressure continues.

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