Hyperliquid's HYPE Hits $75.50, Cracking Top 10 Crypto Assets
Updated
Updated · Bloomberg · Jun 3
Hyperliquid's HYPE Hits $75.50, Cracking Top 10 Crypto Assets
3 articles · Updated · Bloomberg · Jun 3
Summary
$75.50 marked a record high for Hyperliquid's HYPE token on Monday, capping a roughly 180% gain this year and lifting its market value above $16 billion.
That surge pushed HYPE into the top 10 digital assets by market capitalization, even as Bitcoin, Ether and smaller altcoins have struggled in this year's broader crypto downdraft.
Investor flows are helping drive the divergence: billions of dollars have left Bitcoin and Ether funds while money shifts toward tokens tied more directly to underlying economic activity.
HYPE's rise highlights a growing preference in crypto for assets that offer a clearer link between platform usage and token value.