HYPE Surges to Record $75.4, Entering Top 10 Cryptocurrencies on June 3

According to CoinMarketCap, Hyperliquid's HYPE token surged to a record $75.4 on June 3, entering the top 10 cryptocurrencies by market capitalization with a valuation of $16.17 billion. The rally was driven by Hyperliquid capturing a record 6.63% share of global perpetual futures volume in May, with total platform trading volume exceeding $4.15 trillion since inception, according to Dune Analytics.

A scheduled unlock of 9.92 million HYPE tokens, valued at approximately $684 million, is set for June 6, representing 2.54% of circulating supply. Bitwise launched a spot HYPE ETF that recorded a $19 million single-day inflow on May 27, while Grayscale filed a Hyperliquid Staking ETF under ticker HYPG on Nasdaq.