HYPE Leads Altcoin Recovery as Bitcoin Price Steadies
HYPE is the top performer among the 15 largest assets by market cap, excluding stablecoins, with a 12.4% weekly gain and a 67.2% monthly increase, trading at $41.31. The token has shown strong momentum since mid-May, approaching monthly highs around $42. Investor interest in HYPE reflects speculative momentum and fundamentals like ecosystem growth and institutional interest. In contrast, Ethereum, Solana, and Dogecoin have posted modest gains of 7%, 7.3%, and 4.4%, respectively, recovering from late-May lows but remaining below recent highs. Bitcoin's implied volatility has reached record lows. Analysts note that the current upswing is driven by liquidity, retail energy, and institutional interest, but broader macro factors like tariff headlines and dollar strength pose challenges. Hyperliquid has seen high organic usage as it competes with centralized exchanges, attracting users for its perpetual futures offerings. Perpetual futures, which allow indefinite speculation on price movements, now account for approximately 93% of crypto derivatives trading. Hyperliquid asserts its compliance with SEC requirements for resilience and customer protection.
