Hyperliquid's native token HYPE has surged to a record high above $60, defying a prolonged slump across much of the cryptocurrency market and drawing increased attention from institutional investors.
The rally pushed HYPE as high as $62 and lifted its market capitalization beyond $15 billion, according to market data cited by CryptoSlate. The move comes as activity on the decentralized trading platform continues to expand, with total value locked on Hyperliquid surpassing $5 billion and open interest nearing $10 billion, both record levels for the platform.
