Hyperliquid's HYPE token is trading around $80-$82 after gaining about 4% in 24 hours and more than 220% year to date. Multicoin Capital identified Hyperliquid as one of its largest holdings after a detailed reassessment, citing increased liquidity and developer activity. Hyperliquid recently burned about 32,770 HYPE worth $2.65 million, while its total value locked has risen to nearly $7 billion. Platform fees fund the protocol's continuing token burns. Wallet 0x6436 also staked another 308,569 HYPE worth about $26 million. The token's market capitalization is estimated at $18 billion-$20 billion, with a fully diluted valuation of approximately $78.4 billion, while prediction-market pricing gives it a 51% probability of reaching $100 by December 31, 2026.