Bitcoin
Hyperliquid Nears Record High as Broader Crypto Market Lags
The HYPE token traded within 5 percent of its all-time high on October 5, contrasting with major cryptoassets that remain deeply below their peaks.
Hyperliquid's native token, HYPE, changed hands at $93 on October 5, 2026, sitting 5 percent below its record high of $98 set on September 23. This relative strength follows a 4 percent weekly gain and a 90 percent increase over the year. By comparison, Bitcoin remained 32 percent below its peak of $126,080, Ethereum was down 45 percent from its $4,946 record, and both XRP and Solana traded roughly 59 percent under their all-time highs.
Hyperliquid generated approximately $429 million in revenue by mid-September 2026 from its perpetual futures platform, with regulated U.S. exposure established through spot ETFs launched by Bitwise and Grayscale in May 2026. The network features 222 million circulating tokens out of a 1 billion maximum supply, giving it a market value of $21 billion.
Token dynamics show that the core team claimed only 3.2 million of 405 million unlocked tokens through March 2026, despite monthly unlock limits of about 9.9 million. Meanwhile, the Assistance Fund allocated more than $1.3 billion toward open-market buybacks through July 2026 using trading fees, alongside a newly initiated monthly transfer of $14.5 million in USDC reserve yield starting October 3. However, monthly price growth slowed to 11 percent as the token encountered resistance near $98.
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