HYPE surged nearly 49% in seven days to around $57.6, while roughly $33.91 million in 24-hour liquidations across Hyperliquid, Binance, and Bybit was led by short positions.
Hyperliquid’s native token HYPE rallied nearly 49% over seven days to around $57.6, outperforming Bitcoin and Ethereum and rising to within cents of its all-time high. The move triggered heavy derivatives-market stress for bearish traders: one report cited $36.5 million in short liquidations as HYPE neared its record price, while another recorded $33.91 million in total liquidations over the past 24 hours, including $31.82 million from short positions. Liquidation activity was mainly concentrated on Hyperliquid, Binance, and Bybit, and the largest single liquidation was $1.8 million.