Hyperliquid Is Now A Top 10 Cryptocurrency: Will It Stay?

Hyperliquid (HYPE) is now among the top 10 biggest cryptocurrencies by market cap. The project has seen growth over the last few months, hitting an all-time high of $76.70 on June 16, 2026. HYPE’s rally was anomalous, given that the larger market has been in bear territory for all of this year. Let’s discuss why Hyperliquid (HYPE) deviated from the larger market trend and if the asset can maintain its momentum.

How Did Hyperliquid Enter The Top 10 Cryptocurrencies?

The primary reason behind HYPE’s sudden surge is the expansion of the Hyperliquid exchange. Although the platform was initially popular for only cryptocurrency trades, it has since expanded to oil futures, stocks index products, exposure to pre-IPO markets, prediction markets, gold and other commodities. The expansion to other financial products has attracted a large clientele. The Hyperliquid exchange was also open 24/7, while other exchanges remain closed for certain hours. This made the exchange popular, especially for oil perpetual futures during the Middle East crisis.

The Hyperliquid platform saw a massive uptick in revenue as more people stormed into the exchange. The platform uses 99% of its trading fees to buy back HYPE tokens. Increased buy backs has been a major factor behind HYPE’s 2026 price rally.

Then came Hyperliquid’s (HYPE) ETF (Exchange Traded Fund) in May 2026. Bitwise Asset Management, Grayscale Investments, and 21Shares launched their own products for clients who did not want crypto exposure directly. ETFs have become a key player in the crypto space, as demonstrated by Bitcoin (BTC) and Ethereum (ETH). Both assets climbed to new peaks in 2025 thanks to increased ETF inflows.

Also Read: Stocks, Gold, & Crypto Dip After Fed’s No Rate Change Decision

The major catalyst for Hyperliquid’s (HYPE) sudden surge in 2026 is that investors stopped treating the asset as a typical altcoin, instead valuing it like a fast-growing exchange business with real revenue. This gives real reason and strength for Hyperliquid (HYPE) to remain in the top 10.