Hyperliquid's HYPE token has gained 101 percent year to date while decoupling from Bitcoin. The platform's revenue has expanded across multiple sectors. Bitwise's Matt Hougan described HYPE as the most mispriced cryptocurrency.
Hyperliquid's HYPE token delivered 101 percent gains this year and moved independently of Bitcoin. Revenue growth on the platform has accelerated in several areas at once.
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Hyperliquid's token price crossed $50 this week, driven by early inflows into new spot HYPE exchange-traded funds that outpaced Bitcoin products on an adjusted basis.
Hyperliquid ETFs have drawn in 172 million dollars since their launch. This comes as the HYPE token reached an all-time high. Meanwhile, U.S. spot Bitcoin ETFs have seen outflows of nearly 5.6 billion dollars over the same period.
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Michael van de Poppe says Hyperliquid’s surge and renewed interest in AI-focused crypto projects signal a broader return of risk appetite in altcoins. He highlighted recent gains in the HYPE token and pointed to undervalued AI-linked projects as key drivers.
The Bank of Japan raised interest rates to a 31-year high, yet Bitcoin climbed above $66,500 and gained about 1.5 percent in 24 hours.
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Major cryptocurrencies declined over the past week while the S&P 500 extended its longest weekly winning streak since 2023. Bitcoin and ether fell nearly 3 percent each amid softer inflows into spot bitcoin exchange-traded funds. Smaller tokens such as Hyperliquid's HYPE provided the only notable gains.