Hyperliquid just smashed a new all-time high at $67, and this rally is almost entirely fueled by TradFi FOMO pouring in. I don't see this wave cooling off anytime soon. Here is what is really driving $HYPE this week. 1/ Futures Market Share hits ATH On May 25, HL captured a record 16.28% of the futures market share, overtaking Binance and breaking its previous peak of 16.17% from February. Big money and volume are rotating on-chain. 2/ HIP-3 Open Interest hits ATH at $2.85 billion on May 29 3/ Insane $HYPE ETF Performance Spot HYPE ETFs have absorbed 1.04% of HYPE total market cap in just 10 days since launch. This is the strongest start in history, beating BTC at 0.59%, ETH at 0.41%, and SOL at 0.31%. Bitwise $BHYP surged from $30.5M to $40M AUM in just over a week. On May 26 alone, trading volume hit $12M in the first 90 minutes. 4/ Major Regulatory Breakthrough for US Users The CFTC just approved perpetual futures for US users. Hyperliquid is officially coming to America. 5/ Native Prediction Market Launches HL deployed a native prediction market for real-world events like CPI, Fed rate decisions, and elections. This is a direct and strong challenge to Polymarket and Kalshi. 6/ Support Fund Remains Active The fund continues reinvesting fees into buybacks and token burns, providing ongoing structural support for $HYPE. 7/ Whale Activity + Short Squeeze $HYPE $100 is now encoded.