SpaceX pre-IPO bet crashes 45% while HYPE holds near highs

The token remained near its May 26 all-time high of $64.44. That price action suggests the market treated the SpaceX event as a product-level risk, not a full rejection of Hyperliquids broader trading story.

As crypto.news reported, Hyperliquid recently hit new highs as ETF inflows and prediction-market growth supported demand. HYPE ETFs also crossed $100 million in cumulative net inflows within their first 10 trading sessions, giving the token another demand channel.

Hyperliquids token model also remains central to trader interest. As previously reported by crypto.news, the Assistance Fund uses 97% of protocol trading fees for open-market HYPE buybacks. That structure links exchange activity to token demand, though it does not remove trading risk.

Social posts add caution around sentiment

Market commentary stayed bullish after the crash, but some posts should be treated with care. Hyperliquid Daily called Hyperliquid “the full financial layer” and said Wall Street was watching. It also cited a claim that ICEs CEO called the platform “bigger than NASDAQ” in effect.

Hyperliquid is becoming the full financial layer:

Perps + prediction markets + pre-IPO synthetics + full DeFi via HyperEVM

99% of fees → $HYPE buybacks/burns

Running ~$800M annualized revenue with a tiny team

Wall Street is watching. ICEs CEO called it “bigger than NASDAQ”… pic.twitter.com/Bv4yCUs2n5

— Hyperliquid Daily (@HYPERDailyTK) May 29, 2026

The “bigger than NASDAQ” line should be treated as social commentary unless matched with a direct source. It may reflect market excitement more than official guidance.

Trader Ansem wrote that HYPE was “still trading well” near previous highs and said he did not think the token would revisit $50. That view matched the price rebound, but it remains a trader forecast, not confirmed market direction.