Hyperliquid-driven HYPE hits fresh highs as price pushes above $73 on June 1

Hyperliquid is drawing growing attention as a venue for perpetual futures and on-chain stock-style trading, lifting HYPE to new highs above $73. As of June 1, HYPE changed hands at $73.42, while derivatives activity climbed with open interest reaching $2.66B and short positions accounting for 56%. The move also coincided with over $20M in short liquidations and a reported whale liquidation that wiped $42M in unrealized gains.