Hyperliquid's HYPE token staged a strong breakout on Saturday, continuing a trend that started in January when it bottomed at $20. It surged to a record high of $67, and a combination of strong fundamentals and technicals points to an eventual surge to $100.

Earlier this month, 21Shares and Bitwise Investments became the first firms to launch HYPE-based exchange-traded funds.

HYPE hit a record near $67 after the CFTC cleared the first US perpetual futures contract and Grayscale called Hyperliquid a breakout success.