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HYPE Rises Above 68 USDT to Record High, Up 9.78% in 24 Hours

HYPE Rises Above 68 USDT to Record High, Up 9.78% in 24 Hours

HYPE set a new record at 68.5 as its market cap climbed to $15.2 billion, while large leveraged positions showed steep unrealized losses for shorts and major gains for longs.

USDT
HYPE

Fact Check
The Lookonchain X post directly states the exact figures: 892,513 HYPE unstaked (~$55.9M) and a 1.75M HYPE short. Multiple independent Chinese crypto outlets (Odaily, PANews, BlockBeats) republish the same data. The only minor inconsistency is the claim's headline '$55.6 million' versus the body and primary source's '$55.9 million' — the body of the claim matches the source exactly.
Summary

HYPE rose above 68 USDT to a new all-time high of 68.5, gaining more than 10.4% in 24 hours and over 50% in two weeks. Its market capitalization reached $15.2 billion, ranking it 11th, while fully diluted valuation climbed to $65.4 billion. The rally intensified pressure on major bearish positions, with trader Loracle showing a $36.6 million unrealized loss on a $114 million HYPE short, while whale address 0x082 held a $40.69 million unrealized gain on a $94 million leveraged long.

Terms & Concepts
  • All-time high: The highest recorded market price an asset has ever reached in its trading history.
  • USDT: Tether, a U.S. dollar-pegged stablecoin widely used as a trading pair on cryptocurrency exchanges.
  • FDV: Fully diluted valuation, a metric estimating a token’s total value if its maximum supply were in circulation at the current price.