Hype Token Soars to New All-Time High Above $85

HYPE has broken above $85 for the first time in its history, reaching an all-time high of $86.13 as the altcoin market experiences a broad recovery.

The token's latest advance builds on a breakout that developed over several sessions, with HYPE previously reaching about $83.60 on August 23 before pulling back. Buyers defended the $77-$78 area, allowing the token to regain momentum and challenge its previous record.

Derivatives activity has expanded, with open interest rising from roughly $3.5 billion during the previous record attempt to around $3.87 billion, representing an increase of about 10%. The expansion indicates that additional leveraged positions entered the market as HYPE moved toward its new high.

The rally is also occurring alongside strong performance from other major altcoins, including Solana, Monero, XRP, and Chainlink, which have all posted significant gains over the past 24 hours.