Although Hyperliquid had its own share of the recent market volatility, trading in the red zone for several days during the last week, its institutional investors remained resilient throughout the period.
Despite its weak price movements, recent data from Arkham Intelligence showed that the Hyperliquid ETFs maintained a full week of zero sell-offs.
Hyperliquid recovers 16%
The data provided by the source showed that Hyperliquid rapidly surged by over 16% from its weekend lows, thanks to the sustained demand from its ETFs even during such a weak period.
Notably, the data showed that no Hyperliquid ETF sold HYPE last week, even though other crypto funds saw some outflows during the period.
Crypto rewards platform
Rather than selling, all the Hyperliquid funds either recorded net purchases or held firmly to their existing HYPE holdings, signalling continued institutional interest in the asset.
Nonetheless, the consistent ETF demand seen over the last week has fueled a strong recovery for HYPE from the low price levels at which it traded during the weekend.
HYPE recorded an increase of over 16% from its weekend lows. The rebound is attributed to renewed interest from its ETFs.
Bitwise and Grayscale bought $2.8 million of HYPE
While the Hyperliquid ETF market saw renewed momentum during the last week, Bitwise and Grayscale were among the most notable buyers in the market.
The data showed that both firms collectively purchased about $2.8 million worth of HYPE during the week, further supporting the asset's price rebound.
While HYPE is still trading on a bullish trajectory, analysts believe that if the funds maintain their rising interest, the asset could be set for further upward movement.