Hyperliquid's HYPE Token Shows Resilience as Crypto Market Crash Deepens

Hyperliquid’s HYPE token has lost roughly a quarter of its value since its peak. Yet amid the latest crypto market crash, it is holding up better than Bitcoin and Ethereum. Its derivatives market offers one possible explanation. HYPE traded near $73 on Friday, down approximately 7% over seven days. Bitcoin lost more than 9% during the same period, while Ethereum dropped nearly 14%. The token’s recent decline followed a rally above $95 in late October, driven partly by excitement over a partnership involving Trade.xyz and Intercontinental Exchange, the New York Stock Exchange’s parent company. Why HYPE Is Holding Up Better Than Bitcoin and Ethereum According to Bitunix’s latest research , HYPE’s notional open interest on Hyperliquid declined from $1.21 billion to $1.07 billion, approximately 12%.

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