Hyperliquid's Ranking Gain Fuels HYPE Price Recovery

HYPE has experienced a price recovery after dipping to around $77 and is currently trading near $81. The token's upward momentum follows reports that Hyperliquid L1 surpassed Arbitrum in chain total value locked rankings, taking eighth place from ninth.

Total value locked across the Hyperliquid protocol stands at $6.73 billion, up 11.6% over the past 30 days.

Regulatory activity around perpetual futures has also contributed to HYPE's recent price action. The token remains roughly 9% down over the past seven days, but buyers have absorbed enough of the available supply to reverse part of the decline.