HYPE Surges Above $57 as Short Squeeze Pushes it 2% Away From ATH

Both assets have soared by double-digits on a daily scale, followed by DASH and MNT.

Bankless has been looking past the usual “partnership announcement” narrative and instead focused on what the new Hyperliquid (HYPE), Coinbase (COIN), and Circle (CRCL) deal could realistically change for USDC. In its latest write-up, the outlet argues the collaboration is more than public relations, especially at a time when stablecoin momentum has started to pick up but the deeper numbers have not shifted as quickly as some investors might expect. Bankless frames USDC’s moment as meaningful, but also incomplete—while positioning Hyperliquid as the missing platform that could help Circle’s stablecoin translate momentum into real market share. The USDC Deal As reported by Bitcoinist last week, Coinbase said it is expanding its role by becoming the official treasury deployer of USDC on Hyperliquid.  In the plan, Coinbase treats USDC as an Aligned Quote Asset (AQA), while Hyperliquid’s USDH token is expected to be phased out gradually.  Related Reading: Hyperliquid ETFs Send HYPE Closer

HYPE is showing remarkable strength as it approaches all-time highs — a performance that stands in sharp contrast to the broader market, facing selling pressure and uncertainty. While most assets have been retreating, Hyperliquid’s native token has been moving in the opposite direction, drawing attention from the most closely watched category of participants in the digital asset space. Related Reading: Bitcoin’s 2026 Market Structure Reveals A Problem Hidden Beneath ETF Growth Data from Arkham Intelligence has revealed that a whale wallet linked to Andreessen Horowitz — the legendary Silicon Valley venture capital firm known as a16z, which manages one of the largest and most influential dedicated crypto funds in the world and has backed foundational projects including Coinbase, Uniswap, and Solana — has created a new wallet and used it to purchase 206,325 HYPE tokens worth approximately $9.95 million over the past ten hours. The purchased tokens were then immediately staked — a deliber

Bitcoin looks on track for a rally toward $80,000 while HYPE, ZEC and a handful of altcoins are pushing toward their range highs.

Bitwise's chief investment officer said that Hyperliquid is targeting not the $3 trillion crypto economy, but the $600 trillion global asset market.

Hyperliquid's HYPE token has decoupled from Bitcoin with 101% YTD gains as the platform's revenue explodes across multiple sectors.

Wallets linked by onchain analysts to venture capital firm a16z crypto have accumulated over $90 million worth of HYPE tokens since mid-April, making them the sixth-largest holder and potentially the largest external institutional position in Hyperliquid’s native asset. Data Points to a16z as the Largest External HYPE Holder Wallet address 0xb5E4, whose funding history and […]

HYPE wallets linked to a16z may hold $356m in tokens, making them a top external holder as Hyperliquid demand and ETF flows rise in 2026 now