Hyperliquid HYPE Hits Record High, Enters Crypto Top 10

Hyperliquid’s native token HYPE has surged to a new all-time high, breaking into the world’s top 10 largest cryptocurrencies by market capitalization as bullish momentum pushes the asset closer to the $100 milestone.

HYPE climbed as high as $89.92 following a strong technical breakout, leaving the token roughly 11% below the psychological $100 level. The rally has placed Hyperliquid in price discovery, where limited historical selling resistance could allow volatility to remain elevated.

Technical analyst Aksel Kibar of Tech Charts highlighted a bullish breakout, pullback and continuation pattern on the HYPE/USDT daily chart. The formation suggests that the recent consolidation has ended while buyers continue to control the broader trend.

According to Kibar’s technical setup, HYPE could target approximately $100.50 over the medium term. The $76.60 area is now viewed as an important support level after previously serving as resistance.

The Hyperliquid rally has also been supported by substantial trading activity. Daily HYPE trading volume exceeded $1.58 billion, while its market capitalization reached approximately $22.61 billion. That valuation propelled Hyperliquid into 10th place among the largest cryptocurrencies, overtaking Dogecoin and moving closer to Zcash in the rankings.

Beyond technical momentum, Hyperliquid’s tokenomics remain an important factor supporting long-term HYPE demand. Nearly 99% of decentralized exchange trading fees generated by the protocol are directed toward open-market HYPE purchases followed by token burns. This deflationary mechanism reduces circulating supply while linking demand for the token to activity on the Hyperliquid decentralized exchange.

With HYPE trading at record levels and liquidity remaining strong, attention is now centered on whether the cryptocurrency can extend its breakout toward the three-digit price range. Kibar’s $100.50 technical target puts the closely watched $100 threshold within reach, although the sustainability of the rally will depend on continued buying pressure and broader cryptocurrency market conditions.