HYPE, Hyperliquid's native token, surged to a new all-time high of $61.68 during U.S. trading hours as volumes reached a three-month peak. The move came alongside rising interest from whales and wallets associated with Grayscale and Bitwise, while derivatives activity expanded with open interest pushing above $2.1B.

Analyst Michaël van de Poppe says SUI is being overlooked despite ongoing infrastructure and institutional-facing progress, as attention centered on the token's drop from $5.35 to about $0.90. He highlighted milestones such as a fifth spot crypto ETP listed in February 2026, CME futures going live, and March stablecoin transfers surpassing $1 trillion, while SUI traded at $1.0896 at press time.

Bitwise submitted an amended S-1 to the SEC on April 11, 2026 for BHYP, described as the first spot ETF designed to track Hyperliquid's HYPE token, with NYSE Arca listed as the exchange. The filing lists a 0.67% annual fee and names Anchorage Digital as custodian, while also outlining a model that routes 97% of trading fees to buybacks and burns and passes 85% of staking rewards to the fund net of fees.

Morgan Stanley filed an amended S-1 on May 20, 2026 for its proposed spot Solana ETF (MSOL), adding a staking feature and indicating the fund would hold SOL directly while reflecting staking income in NAV. Other Solana ETF products have also moved forward in May, while SOL traded from about $94 on May 15 to $85.68 after dipping to $84 by May 18, down 5.5% over seven days.

Bitmine Immersion Technologies holds 5,278,462 ETH, equal to 4.37% of Ethereum’s 120.7 million circulating supply, as its chairman Tom Lee highlights $2,100 as a key level for a May 2026 monthly close. As of May 21, 2026 (12:02 UTC), ETH traded at $2,113.86, down -0.65% on the week, with indicators including a green MACD histogram (+45.59) and a rising RSI (39.65) near the $2,100 area.

XRP is trading at $1.37 as May approaches its final week, after a breakout above the 100-day moving average failed to hold and recent gains were erased. On the USDT chart, the 100-day MA has flipped to overhead resistance near $1.40, while $1.20 is highlighted as the next potential demand zone. On the BTC pair, price slipped to around 1,770 sats after a brief move above 1,800 sats, with 1,550–1,500 sats marked as possible downside levels if weakness continues.

XRP Ledger activity jumped over the past 24 hours, with Ledger data showing payment and transaction volumes rising and daily payments climbing back above 1.27 million. XRP’s price has still been trading in a tight band around $1.35-$1.40, with analysts watching whether it can reclaim $1.45-$1.50 on strong volume or remain range-bound.

Hyperliquid has overtaken Solana on fully diluted valuation at $56 billion versus $50 billion, alongside a sharp divergence in token performance. HYPE traded at $58.60, up 20% in 24 hours, while SOL rose 2.20% over the same session. Separately, 7-day protocol fees also flipped at $12.6 million for Hyperliquid versus $11.8 million for Solana.