Hyperliquid Surges Past $77, Tests Strength Amid Cooling Market

Hyperliquid (HYPE) showed strong momentum last week after adding over $480 billion to the crypto market cap. The token reached a new all-time high and entered price discovery, but then experienced a 3% pullback that cleared weak positions. Open interest rose by $1 billion, with weekly fees reaching $24.63 million and trading volume hitting $70 billion.

The token outperformed Bitcoin and Ethereum in relative strength, indicating growing market interest. However, the key test now is whether Hyperliquid can maintain its gains as the broader crypto market cools.