Hyperliquid's HYPE token has demonstrated significant growth, recently peaking at $67 after a low of $20 earlier this year. This increase is attributed to a bullish cup and handle pattern that suggests a potential target of $100. Hyperliquid has emerged as a leader in the decentralized finance (DeFi) sector, processing $187 billion in perpetual futures trades over the past month, far outpacing established platforms like Uniswap and PancakeSwap. The platform's unique offerings, including weekend trading of crude oil futures, have contributed to its popularity. Additionally, Hyperliquid has generated over $900 million in fees in the past year, supporting a deflationary token model through token burns that exceed emissions. The recent launch of HYPE ETFs, which have attracted $109 million in inflows, further underscores the token's upward trajectory, especially with the anticipated launch of Grayscale's HYPE ETF.