The Hyperliquid platform’s native token, HYPE, is today the strongest performer among top 15 assets by market cap—excluding stablecoins.
Its seven-day gains have outpaced major altcoins as Bitcoin volatility posts record lows for the year, pushing a relatively stable trading pattern.
HYPE traded at $41.31, down 0.3% on the day, yet maintaining strong momentum with 12.4% weekly gains and 67.2% monthly appreciation, according to data from CoinGecko. It has sustained this uptrend since mid-May, with recent price action pushing HYPE back toward monthly highs around the $42 range.
Compared to established altcoins, heightened investor interest around HYPE “reflects both speculative momentum and deeper fundamentals like ecosystem growth and institutional interest,” Vincent Liu, chief investment officer at crypto and quantitative trading firm Kronos Research, told Decrypt.
For instance, Ethereum, Solana, and Dogecoin posted modest gains, extending their upward momentum as the broader crypto market remains relatively stable.
Over the week, ETH has climbed 7%, SOL by 7.3%, and DOGE by 4.4% over the same stretch. All three are showing signs of recovery from late-May lows, but remain well below recent local highs.
Bitcoin, meanwhile, posted record lows for implied volatility, which gauges how much of its spot price could move further, based on options prices.
Of the four, Liu suggests “a mix of retail hype in DOGE and HYPE, alongside real progress in ETH and SOL” is taking shape.
But while the upswing “has legs short-term, driven by liquidity, retail energy, and fresh institutional interest,” Liu acknowledged how broader macro factors are still at play, citing how “tariff headlines and dollar strength” ratios add friction to the fray.
“Long-term upside hinges on macro stability and clear regulation,” Liu told Decrypt.
The same factors could be drawn on Bitcoin, whose new highs have been “fueled by increasingly hard-to-ignore institutional participation,” and as such has “reignited optimism across the entire crypto space,” encouraging “renewed retail interest and appetite for altcoins perceived as strong projects or community favorites,” Jeth Ang, chief operating officer at modular onchain platform Sovrun, told Decrypt.