Hyperliquid’s HYPE token has climbed more than 40% over the past two weeks, defying a broader crypto market sell-off after a sharp cut in token unlocks and a new partnership with Ripple.
The rally follows Ripple adding Hyperliquid’s decentralised exchange to its institutional prime brokerage platform Ripple Prime, marking its first direct DeFi integration since launching the service in late 2025.
Hyperliquid also slashed its monthly token unlock to 140,000 HYPE, an 88% reduction from January, significantly reducing sell-side pressure and helping insulate the token from wider market weakness.
HYPE was trading around $31.50 on Monday, up roughly 41.5% over a fortnight, even as major cryptocurrencies declined, according to data from CoinGecko.
“When liquidity tightens, the difference between real products and narrative-driven tokens becomes obvious,”
Said Nima Beni, founder of Bitlease, pointing to Hyperliquid’s usage-driven demand.
Analysts also cited the platform’s derivatives infrastructure and recent HIP-3 upgrade, which added commodities and equities trading, as drivers of sustained interest.
Despite the gains, sentiment has cooled, with prediction market Myriad showing falling odds of HYPE retesting $41, signalling growing short-term caution even as long-term fundamentals strengthen.
At the time of reporting, Hyperliquid price was $31.83.