Hyperliquid Surges 11% in 24 Hours as 21Shares and Bitwise Accumulate

Hyperliquid (HYPE) surged 11% over a 24-hour period as 21Shares and Bitwise entered the market to accumulate the asset on the same day. 21Shares purchased $2.4 million (approximately 3.3 billion KRW) worth of HYPE on July 17, marking the first capital inflow in 20 days. Bitwise also acquired $1.9 million (about 260 million KRW) on the same day. PANews reported the details citing Arkham monitoring data, noting that HYPE was trading at $86.67 (approximately 119,691 KRW) at the time. The price remained $2.93 below its all-time high of $89.60 (about 123,738 KRW). This marks the first instance where both asset managers purchased HYPE on the same day. However, PANews did not disclose the purpose of the transactions or their subsequent holdings. The purchase by 21Shares came after a 20-day capital dry spell, though no evidence was provided linking these trades directly to the price surge. HYPE's price is nearing its all-time high, and PANews did not mention any further planned purchases or official statements from either firm.