Hyperliquid (HYPE) Leads the Top 10 in August, Yet Smart Money is Short
Hyperliquid (HYPE) price has gained 13.99% in August, making it the strongest performer among the top 10 crypto assets this month.
However, exchange-traded fund flows, large holder activity, and derivatives positioning now point in different directions.
HYPE Outpaces Bitcoin and Ethereum as ETF Demand Slows
CryptoRank data show HYPE up 13.99% for the month. This runs roughly 3.3 times Solana's (SOL) 4.26% gain and 6.8 times Bitcoin's (BTC) 2.07% uptick.
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XRP (XRP) is the only major asset in the red, down 5.98%. It has spent the month trailing its major peers while large holders kept buying.
The latest gain comes after a period of decline. HYPE fell 21.94% from its record high until early August, before rebounding. A 13.99% gain off a 21.94% drawdown still leaves the token short of its prior mark.
Meanwhile, institutional demand has yet to return in any sustained form. SoSoValue data shows that HYPE ETFs saw three consecutive weeks of outflows through July 31.
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