Hyperliquid is back in focus for two measurable reasons: HYPE traded up 6.64% over the past 24 hours to $61.27, and net daily USDC inflows hit $173 million, their highest level in 10 months. Since USDC is widely used as margin and settlement collateral, that kind of inflow suggests more capital is being positioned on the platform for trading, hedging, or liquidity provision.
The caveat is simple: stronger balances on-platform help explain the attention, but they do not by themselves confirm institutional adoption.