Analysts target a $35–$40 retracement as HYPE consolidates below its ATH after a 614% surge.
Hyperliquid's surge and renewed interest in AI-focused crypto projects are signaling a broader return of risk appetite in altcoins, says Michael van de Poppe.
While major cryptocurrencies remain mired in a prolonged slump, the native token of the decentralized exchange Hyperliquid has surged to a record high. Data from CryptoSlate showed that HYPE crossed $60 for the first time, reaching as high as $62.
Hyperliquid's native token HYPE has been the major center of attention in the cryptocurrency market over the last week. Besides its impressive price action — outperforming other large-cap assets by a significant margin in the past week — the cryptocurrency seems to be becoming the new darling of institutional investors.
Hyperliquid is increasingly evolving from a high-performance trading platform into a foundational layer of crypto's financial infrastructure. What began as a decentralized perpetual futures exchange has expanded into a broader ecosystem that attracts traders, liquidity providers, builders, and capital at a growing scale.
Hyperliquid's HIP-4 outcome markets could democratize event-based trading, attracting diverse traders while testing governance and oracle reliability. Hyperliquid expands capabilities with HIP-4 outcome markets.
In May 2026, Hyperliquid briefly exceeds Solana in fully diluted valuation and weekly fees. The HYPE token reaches an FDV of $56.7 billion versus Solana's $54.2 billion. Hyperliquid's protocol fees total $12.6 million over seven days; Solana's total $11.8 million. The data signal a profound shift in crypto's liquidity hierarchy, not a definitive overthrow.
Hyperliquid whale activity intensified on both the demand and sell sides, driving HYPE to a new ATH.
Bitwises Hyperliquid ETF topped $30M in assets after launch as HYPE fund inflows rose and Grayscale pursued its own ETF. Bitwise Hyperliquid ETF tops $30 million in assets as HYPE fund race accelerates.
HYPE rose 55% in one week and more than 130% year to date, trading near $56 below the $59 to $60 resistance zone. Ali Martinez flagged a TD Sequential Combo 13 sell signal, a possible green 9 sell confirmation and overheated RSI and Chande Momentum readings.
OKX debuted perpetual oil futures tied to Intercontinental Exchange's benchmarks, the latest sign of growing competition for Hyperliquid.
Bitcoin stayed between $76,100 and $78,000 for a fourth straight day, leaving traders focused on altcoin rotation rather than broad directional conviction. NEAR gained 28.5%, FET rose 11.4% and HYPE hit a record high after rallying around 60% since Tuesday.